Bank Loans for Support Services

With these bank loans for support services, the SBA guarantees the lender that the loan will be repaid. This support services loan for $10,000 was given to a South Dakota entrepreneur in 2007.

This small firm knew how to go about getting a business bank loan. Based in Yankton, South Dakota, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Cortrust Bank, based in Mitchell, South Dakota.

SBA Loan Borrower

COMPANY TYPE: SUPPORT SERVICES
YANKTON, SD 57078

SBA Loan Lender

CORTRUST BANK
100 E HAVENS & MAIN
MITCHELL, SD 57301

This lender issued this SBA business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561990 - Support Services

Loan Approval Date

7/23/2007

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $8,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the funding would help generate 1 new job.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Family and Friend Investors - Your First Financiers

SBA Approved Banks in Mitchell, South Dakota

Getting an SBA Loan in South Dakota