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May 17, 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 > Membership Sports And Recreation Clubs Loan | ||||
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Rapid City, South Dakota Bank Loan
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Rapid City, South Dakota Entrepreneur Gets a Business LoanBank loans in South Dakota are hard to find these days. We take a look at one South Dakota bank loan, provided by a South Dakota bank, that was approved by the SBA. By giving the right information to Great Western Bank, this Rapid City, South Dakota business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: MEMBERSHIP SPORTS AND RECREATION CLUBS SBA Loan Lender GREAT WESTERN BANK When it made this small business loan, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program was created 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 7997 - Membership Sports and Recreation Clubs NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 1/31/2002 Loan Approval Gross Amount $345,000 Loan Approval from the SBA Of the total $345,000 loan amount, the SBA guaranteed $258,750. 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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Great Western Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: Best Banks in Rapid City, South Dakota
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