Loan Census Banking News and Information
February 3, 2023  
 
 
  Business Loan Information  
 

Aberdeen, South Dakota Bank for SBA Loans

 

 
Loan Census SBA Loan Info

Small Business Loans for Ambulance Services

Looking for small business loans for ambulance services? Talk to a banker who works with the SBA. This $140,000 ambulance services loan was issued by a South Dakota bank.

Getting a small business loan in Aberdeen, South Dakota was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Dacotah Bank, operating out of Aberdeen, South Dakota. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: AMBULANCE SERVICES
ABERDEEN, SD 57401

SBA Loan Lender

DACOTAH BANK
308 S MAIN ST
ABERDEEN, SD 57401

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621910 - Ambulance Services

Loan Approval Date

12/8/2003

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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 12 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Dacotah Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Dacotah Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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 Credit Evaluation

Good Banks for Small Business in Aberdeen, South Dakota

Getting an SBA Loan in South Dakota