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May 16, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Leeds, Business Loans > United Commun Bank - No. Dakota Leeds Business Loans > Full-Service Restaurants Loan | ||||
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Leeds, North Dakota Bank Loan
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Borrowing Money for Full-Service RestaurantsLooking for bank loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $40,000 full-service restaurants loan was issued by a North Dakota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Leeds, North Dakota was able to borrow $40,000 from United Commun Bank - No. Dakota. The SBA made the loan possible by guaranteeing $34,000 of this North Dakota small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender UNITED COMMUN BANK - NO. DAKOTA This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 9/5/2001 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $34,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. We can help you find the best banks for small businesses in Leeds or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Best Banks for Small Business in Leeds, North Dakota
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