Fairmount, North Dakota Bank Lends Money to Refuse Systems Company in West Fargo, North Dakota

Thinking about meeting with a Fairmount, North Dakota bank about a small business loan? Here's one North Dakota business loan, issued by a Fairmount bank, that was approved by the SBA.

Applying for an SBA loan with Peoples State Bank worked out well for our friends at one local firm in West Fargo, North Dakota. They got an SBA loan for $1,200,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: REFUSE SYSTEMS
WEST FARGO, ND 58078

SBA Loan Lender

PEOPLES STATE BANK
201 MAIN AVE
FAIRMOUNT, ND 58030

This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4953 - Refuse Systems

NAICS Code

562111 - Solid Waste Collection

Loan Approval Date

12/27/2004

Loan Approval Gross Amount

$1,200,000

Loan Approval from the SBA

Of the total $1,200,000 loan amount, the SBA guaranteed $900,000.

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

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Peoples State Bank and they will explain how you can get an SBA loan for your company.

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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