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May 1, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Sioux Falls, Business Loans > Dacotah Bank Sioux Falls Business Loans > Chiropractors Loan | ||||
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Banks in Sioux Falls, South Dakota That Make SBA Loans
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Sioux Falls, South Dakota Bank Gives SBA Loan to Chiropractors CompanyThinking about meeting with a Sioux Falls, South Dakota bank about a business loan? Here's one Iowa business loan, issued by a Sioux Falls bank, that was approved by the SBA. Applying for an SBA loan with Dacotah Bank worked out well for our friends at one local business in Davenport, Iowa. The business was able to get an SBA loan for $48,500. Awesome! SBA Loan Borrower COMPANY TYPE: CHIROPRACTORS SBA Loan Lender DACOTAH BANK This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program involves 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 621310 - Chiropractors Loan Approval Date 7/18/2003 Loan Approval Gross Amount $48,500 Loan Approval from the SBA Of the total $48,500 loan amount, the SBA guaranteed $41,225. 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 2 employees. This SBA loan request did not indicate that the business promised to use the money to add 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Obtaining Funding - How to Decide How Much to Raise SBA Banks in Sioux Falls, South Dakota Browse All Business Loan Sources for South Dakota
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