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May 16, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Rapid City, Business Loans > Great Western Bank Rapid City Business Loans > Beauty Shops Loan | ||||
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Great Western Bank SBA Loans
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Business Loans for Beauty SalonsLooking for business loans for beauty salons? Talk to a banker who works with the SBA. This $62,000 beauty salons loan was issued by a South Dakota bank. Getting a small business loan in Rapid City, South Dakota was important for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Great Western Bank, operating out of Rapid City, South Dakota. Here are the details on this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender GREAT WESTERN BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops NAICS Code 812112 - Beauty Salons Loan Approval Date 11/6/2000 Loan Approval Gross Amount $62,000 Loan Approval from the SBA Of the total $62,000 loan amount, the SBA guaranteed $49,600. More Information on This SBA Loan The borrower borrowed this money for an existing 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 did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Great Western Bank and they will explain how you can get an SBA loan for your company. 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: Dealing With Venture Capitalists SBA Banks in Rapid City, South Dakota
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