 |
 |
May 14, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Hankinson, Business Loans > Lincoln State Bank Hankinson Business Loans > Construction Sand And Gravel Loan | ||||
 |
||||
Lincoln State Bank Business Loan Lidgerwood
|
||||
 |
Lincoln State Bank SBA Loan to Construction Sand And Gravel CompanyAn SBA loan from Lincoln State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lidgerwood, North Dakota business owner got a $150,000 loan. This small firm knew how to go about getting a business bank loan. Based in Lidgerwood, North Dakota, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Lincoln State Bank, based in Hankinson, North Dakota. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION SAND AND GRAVEL SBA Loan Lender LINCOLN STATE BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1442 - Construction Sand and Gravel NAICS Code 212321 - Construction Sand and Gravel Mining Loan Approval Date 2/29/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 12 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. 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: Small Business Banks in Hankinson, North Dakota
|
|
||
|
||||
|
|
||||