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May 4, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Mott, Business Loans > Commercial Bank Of Mott Mott Business Loans > Single-Family Housing Construction Loan | ||||
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Mott Lenders
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Mott, North Dakota Bank Gives SBA Loan to Single-Family Housing Construction CompanyThinking about meeting with a Mott, North Dakota bank about a small business loan? Here's one North Dakota business loan, issued by a Mott bank, that was approved by the SBA. Applying for an SBA loan with Commercial Bank Of Mott worked out well for our friends at one local company in Bowman, North Dakota. They received an SBA loan for $176,000. Great job! SBA Loan Borrower COMPANY TYPE: SINGLE-FAMILY HOUSING CONSTRUCTION SBA Loan Lender COMMERCIAL BANK OF MOTT This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1521 - Single-Family Housing Construction NAICS Code 233210 - Single Family Housing Construction Loan Approval Date 3/23/2001 Loan Approval Gross Amount $176,000 Loan Approval from the SBA Of the total $176,000 loan amount, the SBA guaranteed $132,000. 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 10 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Commercial Bank Of Mott 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. Related Links: Raising VC Money for Social Networking Companies SBA Participating Banks in Mott, North Dakota
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