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April 28, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Rock Rapids, Business Loans > Frontier Bank Rock Rapids Business Loans > Beauty Salons Loan | ||||
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SBA Loans from Frontier Bank
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Sioux Falls, South Dakota Business Gets SBA-Guaranteed Funding from Frontier BankFrontier Bank has a track record as a leading provider of SBA loans. Find out how this South Dakota entrepreneur received an SBA loan from them. Getting a small business loan in Sioux Falls, South Dakota was an essential business goal for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Frontier Bank, operating out of Rock Rapids, Iowa. Here are the details on this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender FRONTIER BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 812112 - Beauty Salons Loan Approval Date 9/19/2006 Loan Approval Gross Amount $80,100 Loan Approval from the SBA Of the total $80,100 loan amount, the SBA guaranteed $40,050. 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 23 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 26 existing jobs. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. This SBA loan was for $80,100. How would you spend $80,100 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Determining Proper Capital Structure for a Business Where to Get an SBA Loan in Rock Rapids, Iowa
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