Mandan, North Dakota Bank Gives SBA Loan to Structural Steel Erection Contractors Company

Get to know Mandan, North Dakota banks that specialize in business loans and know how to work with entrepreneurs. Security 1st Bank - No. Dakota is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Mandan, North Dakota starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Security 1st 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: STRUCTURAL STEEL ERECTION CONTRACTORS
MANDAN, ND 58554

SBA Loan Lender

SECURITY 1ST BANK - NO. DAKOTA
614 W MAIN ST
MANDAN, ND 58554

This lender issued this particular bank 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.

NAICS Code

235910 - Structural Steel Erection Contractors

Loan Approval Date

5/10/2001

Loan Approval Gross Amount

$62,900

Loan Approval from the SBA

Of the total $62,900 loan amount, the SBA guaranteed $53,465.

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 7 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Security 1st Bank - No. Dakota that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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 - How to Borrow Money

Where to Get an SBA Loan in Mandan, North Dakota

North Dakota SBA Bank Lenders