Get an SBA Loan for Crop Harvesting, Primarily by Machine
Looking for small business loans for crop harvesting, primarily by machine? Try the SBA. This $100,000 crop harvesting, primarily by machine loan was issued by a North Dakota bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Rockford, North Dakota was able to borrow $100,000 from Bank Forward. The SBA made the loan possible by guaranteeing $85,000 of this North Dakota small business loan.
SBA Loan Borrower
COMPANY TYPE: PREPARED FEEDS & FEED INGREDIENTS FOR ANIMALS & FO
NEW ROCKFORD, ND 58356
SBA Loan Lender
BANK FORWARD
6 S 8TH ST
NEW ROCKFORD, ND 58356
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
2048 - Prepared Feeds & Feed Ingredients for Animals & Fo
NAICS Code
115113 - Crop Harvesting, Primarily by Machine
Loan Approval Date
8/18/2005
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $85,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 5 employees. The SBA loan documents did not indicate that the small business planned to use the money to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
This SBA loan was for $100,000. How would you spend $100,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
SBIR Funding
Small Bank Loans in New Rockford, North Dakota
North Dakota SBA 7A Banks