Loan Census Banking News and Information
January 29, 2023  
  Business Loan Information  

Aberdeen, South Dakota SBA 7A Banks


Loan Census SBA Loan Info

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

Want to talk with an Aberdeen, South Dakota bank about a business loan? Here's one South Dakota business loan, issued by an Aberdeen bank, that was approved by the SBA.

Applying for an SBA loan with Cortrust Bank worked out well for our friends at one local firm in Aberdeen, South Dakota. They got an SBA loan for $225,000. Nice!

SBA Loan Borrower


SBA Loan Lender

519 6TH AVE SE

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7538 - General Automotive Repair Shops


811111 - General Automotive Repair

Loan Approval Date


Loan Approval Gross Amount


Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

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 6 employees. 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.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Cortrust Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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 news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. 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.

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