First Western Bank & Trust Gives Small Business Loan to Fitness And Recreational Sports Centers Company

North DakotaBusiness loans are available to North Dakota business owners through the SBA. In this case, a North Dakota bank provides the loan.

This small business, based in Minot, North Dakota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Western Bank & Trust. We've got the inside scoop on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
MINOT, ND 58701

SBA Loan Lender

FIRST WESTERN BANK & TRUST
900 S BROADWAY
MINOT, ND 58701

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

8/14/2006

Loan Approval Gross Amount

$62,000

Loan Approval from the SBA

Of the total $62,000 loan amount, the SBA guaranteed $31,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the funding would help generate 4 new jobs.

Next Steps for Getting an SBA Loan

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great way to raise money

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:

Debt Financing

SBA 7A Banks for Minot, North Dakota Loans

Getting an SBA Loan in North Dakota