SBA Loan from Choice Financial Group Helps Specialized Local Freight Trucking 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 Grafton, North Dakota business owner got a $22,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Choice Financial Group, out of Grafton, North Dakota. The loan was granted and they received $22,000 to help grow their Grafton, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: SPECIALIZED LOCAL FREIGHT TRUCKING
GRAFTON, ND 58237

SBA Loan Lender

CHOICE FINANCIAL GROUP
645 HILL AVE
GRAFTON, ND 58237

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484220 - Specialized Local Freight Trucking

Loan Approval Date

3/21/2005

Loan Approval Gross Amount

$22,000

Loan Approval from the SBA

Of the total $22,000 loan amount, the SBA guaranteed $18,700.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 Choice Financial Group 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:

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