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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 > Industrial And Commercial Machinery And Equipment Loan | ||||
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North Dakota Business Loan from American Bank Center First
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Business Loan from American Bank Center First Given to Industrial And Commercial Machinery And Equipment CompanyAn SBA loan from American Bank Center First typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Bismarck, North Dakota business owner got a $38,000 loan. This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with American Bank Center First, out of Bismarck, North Dakota. The loan was granted and they received $38,000 to help grow their Bismarck, North Dakota business. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT SBA Loan Lender AMERICAN BANK CENTER FIRST This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3599 - Industrial and Commercial Machinery and Equipment NAICS Code 333999 - General Purpose Machinery Manufacturing Loan Approval Date 6/8/2005 Loan Approval Gross Amount $38,000 Loan Approval from the SBA Of the total $38,000 loan amount, the SBA guaranteed $28,500. 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 22 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Banking Deregulation's Effects on Entrepreneurship SBA Participating Banks in Bismarck, North Dakota SBA Participating Banks in North Dakota
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