Loan Census Banking News and Information
February 1, 2023  
 
 
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Aberdeen, South Dakota SBA 7A Banks

 

 
Loan Census SBA Loan Info

Aberdeen, South Dakota Lender Lends Money to Plumbing, Heating, And Air-Conditioning Contractors Company

An Aberdeen, South Dakota business loan can be yours. Learn how one firm got a $216,888 business loan from this South Dakota bank.

This loan to a local firm is a good example of an SBA loan. Dacotah Bank made the loan and the SBA guaranteed a portion of the loan. Many other South Dakota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: PLUMBING, HEATING, AND AIR-CONDITIONING CONTRACTORS
ABERDEEN, SD 57401

SBA Loan Lender

DACOTAH BANK
308 S MAIN ST
ABERDEEN, SD 57401

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238220 - Plumbing, Heating, and Air-Conditioning Contractors

Loan Approval Date

3/22/2007

Loan Approval Gross Amount

$216,888

Loan Approval from the SBA

Of the total $216,888 loan amount, the SBA guaranteed $162,666.

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 8 employees. This SBA loan request did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Dacotah Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

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SBA 7A Lenders in Aberdeen, South Dakota

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