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February 3, 2023  
 
 
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How to Get SBA Loans in Sioux Falls, South Dakota

 

 
Loan Census SBA Loan Info

Sporting and Recreational Goods and Supplies Merchant Wholesalers SBA Loans

With these SBA loans for sporting and recreational goods and supplies merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This sporting and recreational goods and supplies merchant wholesalers loan for $140,700 was given to a South Dakota entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Sioux Falls, South Dakota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Dacotah Bank, based in Aberdeen, South Dakota.

SBA Loan Borrower

COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES MERCHANT WHOLESALERS
SIOUX FALLS, SD 57104

SBA Loan Lender

DACOTAH BANK
308 S MAIN ST
ABERDEEN, SD 57401

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423910 - Sporting and Recreational Goods and Supplies Merchant Wholesalers

Loan Approval Date

7/28/2004

Loan Approval Gross Amount

$140,700

Loan Approval from the SBA

Of the total $140,700 loan amount, the SBA guaranteed $119,595.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Dacotah Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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