Entrepreneur Works With Yankton, South Dakota Bank to Get an SBA Loan

Find Yankton, South Dakota banks that specialize in business loans and know how to work with entrepreneurs. First National Bank So. Dakota is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Yankton, South Dakota starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from First National Bank So. Dakota. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
YANKTON, SD 57078

SBA Loan Lender

FIRST NATIONAL BANK SO. DAKOTA
332 BROADWAY
YANKTON, SD 57078

When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program aims to provide speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5932 - Used Merchandise Stores

NAICS Code

453310 - Used Merchandise Stores

Loan Approval Date

12/7/2005

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My 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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Business Incubators

SBA 7A Banks in Yankton, South Dakota

Getting a Business Loan in South Dakota