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May 12, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Hot Springs, Business Loans > First Western Bank Hot Springs Business Loans > Meats And Meat Products Loan | ||||
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South Dakota Bank SBA Loans
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First Western Bank SBA Loan to Meats And Meat Products CompanyLooking to get a South Dakota business loan? Here's one South Dakota business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hot Springs, South Dakota was able to borrow $128,000 from First Western Bank. The SBA made the loan possible by guaranteeing $96,000 of this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: MEATS AND MEAT PRODUCTS SBA Loan Lender FIRST WESTERN BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5147 - Meats and Meat Products Loan Approval Date 8/7/2000 Loan Approval Gross Amount $128,000 Loan Approval from the SBA Of the total $128,000 loan amount, the SBA guaranteed $96,000. 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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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. Related Links: Best Hot Springs, South Dakota Banks for Small Business Getting an SBA Loan in South Dakota
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