Minot, North Dakota Lender Lends Money to Chemical And Allied Products Company

A Minot, North Dakota business loan can be yours. Learn how one firm got a $29,000 business loan from this North Dakota bank.

This loan to a local firm is a good example of an SBA loan. Bremer Bank made the loan and the SBA guaranteed a portion of the loan. Many other North Dakota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: CHEMICAL AND ALLIED PRODUCTS
MINOT, ND 58701

SBA Loan Lender

BREMER BANK
20 FIRST ST SOUTHWEST
MINOT, ND 58701

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5169 - Chemical and Allied Products

NAICS Code

422690 - Chemical and Allied Products Wholesalers

Loan Approval Date

6/1/2000

Loan Approval Gross Amount

$29,000

Loan Approval from the SBA

Of the total $29,000 loan amount, the SBA guaranteed $20,300.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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

Good Banks for Small Business in Minot, North Dakota

North Dakota SBA Bank Lenders