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May 9, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Mandan, Business Loans > Security 1st Bank - No. Dakota Mandan Business Loans > Heavy Construction Equipment Rental And Leasing Loan | ||||
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Advice for Small Businesses On Getting a Loan
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SBA Loans for Site Preparation ContractorsWith these SBA loans for site preparation contractors, the SBA guarantees the lender that the loan will be repaid. This site preparation contractors loan for $120,000 was given to a North Dakota entrepreneur in 2006. This business knew how to go about getting a business bank loan. Based in Bismarck, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Security 1st Bank - No. Dakota, based in Mandan, North Dakota. SBA Loan Borrower COMPANY TYPE: HEAVY CONSTRUCTION EQUIPMENT RENTAL AND LEASING SBA Loan Lender SECURITY 1ST BANK - NO. DAKOTA The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7353 - Heavy Construction Equipment Rental and Leasing NAICS Code 238910 - Site Preparation Contractors Loan Approval Date 7/19/2006 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. 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 12 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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 SBA loan was for $120,000. How would you spend $120,000 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: Obtaining Funding - How to Decide How Much to Raise Best Mandan, North Dakota Banks for Small Business
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