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May 8, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Freight Transportation Arrangement Loan | ||||
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Wells Fargo Bank
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Grand Forks, North Dakota Business Gets SBA-Guaranteed Funding from Wells Fargo BankWells Fargo Bank has a track record as a leading provider of SBA loans. Find out how this North Dakota entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Grand Forks, North Dakota was able to borrow $134,500 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $114,325 of this North Dakota small business loan. SBA Loan Borrower COMPANY TYPE: FREIGHT TRANSPORTATION ARRANGEMENT SBA Loan Lender WELLS FARGO 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. NAICS Code 488510 - Freight Transportation Arrangement Loan Approval Date 7/11/2002 Loan Approval Gross Amount $134,500 Loan Approval from the SBA Of the total $134,500 loan amount, the SBA guaranteed $114,325. 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 4 employees. The loan application did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan If you are working on finding money to start a business in Grand Forks ND, you ought to talk with a local Grand Forks SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Grand Forks businesses. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 Bank Loans in Minneapolis, Minnesota Getting an SBA Loan in Minnesota
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