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May 17, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Bismarck, Business Loans > American Bank Center First Bismarck Business Loans > Highway And Street Construction Loan | ||||
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SBA Lenders in North Dakota
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American Bank Center First SBA Loan to Highway And Street Construction CompanyAmerican Bank Center First is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one North Dakota entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bismarck, North Dakota was able to borrow $1,320,000 from American Bank Center First. The SBA made the loan possible by guaranteeing $990,000 of this North Dakota small business loan. SBA Loan Borrower COMPANY TYPE: HIGHWAY AND STREET CONSTRUCTION SBA Loan Lender AMERICAN BANK CENTER FIRST The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans 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. NAICS Code 234110 - Highway and Street Construction Loan Approval Date 4/6/2001 Loan Approval Gross Amount $1,320,000 Loan Approval from the SBA Of the total $1,320,000 loan amount, the SBA guaranteed $990,000. 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 120 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. 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 American Bank Center First 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: Determining Proper Capital Structure for a Business SBA Banks in Bismarck, North Dakota
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