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May 13, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Steele, Business Loans > Northland Financial Steele Business Loans > Meat And Fish Market Loan | ||||
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How to Get an SBA 7A Loan in Dawson, North Dakota
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Northland Financial Gives SBA Loan to Meat And Fish Market CompanyNorth DakotaBank loans are available to North Dakota firms through the SBA. In this case, a North Dakota bank provides the loan. By giving the right information to Northland Financial, this Dawson, North Dakota business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: MEAT AND FISH MARKET SBA Loan Lender NORTHLAND FINANCIAL 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 5421 - Meat and Fish Market NAICS Code 445210 - Meat Markets Loan Approval Date 10/3/2003 Loan Approval Gross Amount $58,100 Loan Approval from the SBA Of the total $58,100 loan amount, the SBA guaranteed $43,575. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 From a Venture Capitalist Where to Get an SBA Loan in Steele, North Dakota Getting a Business Loan in North Dakota
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