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April 24, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Aberdeen, Business Loans > Dacotah Bank Aberdeen Business Loans > Gift, Novelty, And Souvenir Stores Loan | ||||
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Sioux Falls, South Dakota Bank for SBA Loans
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Where to Get Capital for Gift, Novelty, and Souvenir StoresLooking for small business loans for gift, novelty, and souvenir stores? Try the SBA. This $46,000 gift, novelty, and souvenir stores loan was issued by a South Dakota bank. This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Dacotah Bank, out of Aberdeen, South Dakota. The loan was granted and they received $46,000 to help grow their Sioux Falls, South Dakota business. SBA Loan Borrower COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES SBA Loan Lender DACOTAH BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 453220 - Gift, Novelty, and Souvenir Stores Loan Approval Date 11/29/2004 Loan Approval Gross Amount $46,000 Loan Approval from the SBA Of the total $46,000 loan amount, the SBA guaranteed $39,100. 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 only one employee. The loan application did not indicate that the business promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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. Related Links: Obtaining Funding From a Venture Capitalist SBA Participating Banks in Aberdeen, South Dakota
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