Loan Census Banking News and Information
February 1, 2023  
 
 
  Business Loan Information  
 

Dacotah Bank SBA Loan Minot, ND

 

 
Loan Census SBA Loan Info

SBA Loan from Dacotah Bank Helps Photography Studios, Portrait Company

Dacotah Bank has a track record as a leading provider of SBA loans. Find out how this North Dakota entrepreneur received an SBA loan from them.

This business knew how to go about getting a business bank loan. Based in Minot, North Dakota, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Dacotah Bank, based in Aberdeen, South Dakota.

SBA Loan Borrower

COMPANY TYPE: PHOTOGRAPHY STUDIOS, PORTRAIT
MINOT, ND 58701

SBA Loan Lender

DACOTAH BANK
308 S MAIN ST
ABERDEEN, SD 57401

This commercial 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.

NAICS Code

541921 - Photography Studios, Portrait

Loan Approval Date

5/25/2007

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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:

Financing Your Business

Small Business Banks in Aberdeen, South Dakota

Getting an SBA Loan in South Dakota