Entrepreneur Works With La Moure, North Dakota Bank to Get an SBA Loan

Find La Moure, North Dakota banks that specialize in business loans and know how to work with entrepreneurs. First St. Bank - No. Dakota is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Forman, North Dakota starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from First St. Bank - No. Dakota. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SOIL PREPARATION SERVICES
FORMAN, ND 58032

SBA Loan Lender

FIRST ST. BANK - NO. DAKOTA
100 1ST AVE SW
LA MOURE, ND 58458

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 SBA 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.

SIC Code

0711 - Soil Preparation Services

NAICS Code

115112 - Soil Preparation, Planting, and Cultivating

Loan Approval Date

6/8/2001

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great funding source

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 First St. Bank - No. Dakota 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:

How to Raise Money

SBA Approved Banks in La Moure, North Dakota

SBA North Dakota Banks