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May 13, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Cavalier, Business Loans > United Valley Bank Cavalier Business Loans > Eating Places Loan | ||||
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North Dakota SBA Lenders
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Cavalier, North Dakota Bank Gives SBA Loan to Eating Places CompanyThinking about meeting with a Cavalier, North Dakota bank about a small business loan? Here's one North Dakota business loan, issued by a Cavalier bank, that was approved by the SBA. Applying for an SBA loan with United Valley Bank worked out well for our friends at one local firm in Ehnsel, North Dakota. The business was able to get an SBA loan for $36,000. Nice! SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender UNITED VALLEY BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 1/27/2000 Loan Approval Gross Amount $36,000 Loan Approval from the SBA Of the total $36,000 loan amount, the SBA guaranteed $28,800. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for 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 funding to increase staffing levels 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into United Valley Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Accountant's Role in Securing Financing Small Business Banks in Cavalier, North Dakota
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