Business Loan from Dacotah Bank Given to Drinking Places Company
Dacotah Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one North Dakota entrepreneur who tapped into the power of SBA loans.
This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Dacotah Bank, out of Aberdeen, South Dakota. The loan was granted and they received $157,300 to help grow their Dickinson, North Dakota business.
SBA Loan Borrower
COMPANY TYPE: DRINKING PLACES
DICKINSON, ND 58601
SBA Loan Lender
308 S MAIN ST
ABERDEEN, SD 57401
This SBA small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
722410 - Drinking Places
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $157,300 loan amount, the SBA guaranteed $78,650.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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. This SBA loan request indicated that the loan would help generate 1 new job and retain 3 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Dacotah Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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.
SBA Approved Banks in Aberdeen, South Dakota
SBA Lenders in South Dakota