Business Loan from Choice Financial Group Given to Electroplating, Plating, Polishing, Anodizing, And Coloring Company
An SBA loan from Choice Financial Group typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a West Fargo, North Dakota business owner got a $40,000 loan.
Getting a small business loan in West Fargo, North Dakota was an essential business goal for this firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Choice Financial Group, operating out of Grafton, North Dakota. Here are the details on this North Dakota small business loan.
SBA Loan Borrower
COMPANY TYPE: ELECTROPLATING, PLATING, POLISHING, ANODIZING, AND COLORING
WEST FARGO, ND 58078
SBA Loan Lender
CHOICE FINANCIAL GROUP
645 HILL AVE
GRAFTON, ND 58237
This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.
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
332813 - Electroplating, Plating, Polishing, Anodizing, and Coloring
Loan Approval Date
12/15/2006
Loan Approval Gross Amount
$40,000
Loan Approval from the SBA
Of the total $40,000 loan amount, the SBA guaranteed $20,000.
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 9 employees. This SBA loan request indicated that the loan would help generate 7 new jobs and retain 7 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Choice Financial Group so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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.
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