SBA Loan from First Western Bank Helps Full-Service Restaurants Company

An SBA loan from First Western Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Keystone, South Dakota business owner got a $37,000 loan.

This business knew how to go about getting a business bank loan. Based in Keystone, South Dakota, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was First Western Bank, based in Hill City, South Dakota.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
KEYSTONE, SD 57751

SBA Loan Lender

FIRST WESTERN BANK
372 MAIN ST
HILL CITY, SD 57745

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/19/2001

Loan Approval Gross Amount

$37,000

Loan Approval from the SBA

Of the total $37,000 loan amount, the SBA guaranteed $31,450.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from First Western 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.

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SBA Banks in Hill City, South Dakota

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