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May 8, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Aberdeen, Business Loans > Dacotah Bank Aberdeen Business Loans > Commercial Screen Printing Loan | ||||
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Dacotah Bank Business Loans Aberdeen, South Dakota
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Business Loan from Dacotah Bank Given to Commercial Screen Printing CompanyAn SBA loan from Dacotah Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Aberdeen, South Dakota business owner got a $132,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Aberdeen, South Dakota was able to borrow $132,000 from Dacotah Bank. The SBA made the loan possible by guaranteeing $112,200 of this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL SCREEN PRINTING SBA Loan Lender DACOTAH BANK This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 323113 - Commercial Screen Printing Loan Approval Date 5/7/2004 Loan Approval Gross Amount $132,000 Loan Approval from the SBA Of the total $132,000 loan amount, the SBA guaranteed $112,200. 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 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Dacotah Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA Approved Banks in Aberdeen, South Dakota
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