First St. Bank - No. Dakota Gives Small Business Loan to Local Trucking With Storage Company

Would a North Dakota business loan help your company expand? If so, you may want to talk with this North Dakota bank, which offers SBA loans to North Dakota entrepreneurs.

This company, based in Buffalo, 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 St. Bank - No. Dakota. We've got the inside scoop on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITH STORAGE
BUFFALO, ND 58011

SBA Loan Lender

FIRST ST. BANK - NO. DAKOTA
405 MAIN ST
BUFFALO, ND 58011

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4214 - Local Trucking With Storage

NAICS Code

484220 - Specialized Local Freight Trucking

Loan Approval Date

5/11/2004

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

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 18 employees. The loan application did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First St. Bank - No. Dakota had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First St. Bank - No. Dakota made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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