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May 13, 2024 |
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| Home > Small Business Lenders by State > South Dakota Business Loan Sources > Rapid City, Business Loans > First Western Bank Rapid City Business Loans > Computer Processing And Data Preparation Loan | ||||
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Getting a Small Business Loan from First Western Bank
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Spearfish, South Dakota Business Gets SBA-Guaranteed Funding from First Western BankFirst Western Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a South Dakota entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Spearfish, South Dakota was an essential business goal for this firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First Western Bank, operating out of Rapid City, South Dakota. Here are the details on this South Dakota small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTER PROCESSING AND DATA PREPARATION SBA Loan Lender FIRST WESTERN BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7374 - Computer Processing and Data Preparation NAICS Code 514191 - On-Line Information Services Loan Approval Date 5/21/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 6 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This SBA loan was for $150,000. How would you spend $150,000 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: Find an SBA Lender in Rapid City, South Dakota Getting an SBA Loan in South Dakota
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