Loan Census Banking News and Information
February 8, 2023  
 
 
  Business Loan Information  
 

South Dakota Bank SBA Loans

 

 
Loan Census SBA Loan Info

Dacotah Bank SBA Loan to No Industry Type Specified Company

Looking to get a South Dakota SBA loan? Here's one South Dakota business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Aberdeen, South Dakota, they applied for and were given an SBA-guaranteed loan in 2004. The lending bank was Dacotah Bank, based in Aberdeen, South Dakota.

SBA Loan Borrower

COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
ABERDEEN, SD 57401

SBA Loan Lender

DACOTAH BANK
308 S MAIN ST
ABERDEEN, SD 57401

This lender issued this particular SBA 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

517310 -

Loan Approval Date

6/9/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

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