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April 25, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Aberdeen, Business Loans > Dacotah Bank Aberdeen Business Loans > Limited-Service Restaurants Loan | ||||
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Aberdeen Bank Loan
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Aberdeen, South Dakota Bank Gives SBA Loan to Limited-Service Restaurants CompanyWant 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 Dacotah Bank worked out well for our friends at one local company in Canistota, South Dakota. The business was able to get an SBA loan for $30,000. Way to go! SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender DACOTAH BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 12/21/2004 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $25,500. 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 6 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to increase staffing levels 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. We can help you find the best banks for small businesses in Canistota or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Who Lends Money to Small Businesses in Aberdeen, South Dakota
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