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

Thinking about meeting with a Hillsboro, North Dakota bank about a business loan? Here's one North Dakota business loan, issued by a Hillsboro bank, that was approved by the SBA.

Applying for an SBA loan with Dakota Heritage Bank - No. Dakot worked out well for our friends at one local firm in Hillsboro, North Dakota. They received an SBA loan for $222,240. Nice!

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS
HILLSBORO, ND 58045

SBA Loan Lender

DAKOTA HERITAGE BANK - NO. DAKOT
CALEDONIA & 1ST ST SW
HILLSBORO, ND 58045

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

5013 - Motor Vehicle Supplies and New Parts

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

3/20/2006

Loan Approval Gross Amount

$222,240

Loan Approval from the SBA

Of the total $222,240 loan amount, the SBA guaranteed $166,680.

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 2 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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 Much Venture Capital Is There?

SBA Participating Banks in Hillsboro, North Dakota

SBA North Dakota Lenders