New Rockford, North Dakota Business Gets SBA-Guaranteed Funding from Bank Forward

An SBA loan from Bank Forward typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a New Rockford, North Dakota business owner got a $100,000 loan.

Getting a small business loan in New Rockford, North Dakota was an essential business goal for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Bank Forward, operating out of New Rockford, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: PREPARED FEEDS & FEED INGREDIENTS FOR ANIMALS & FO
NEW ROCKFORD, ND 58356

SBA Loan Lender

BANK FORWARD
6 S 8TH ST
NEW ROCKFORD, ND 58356

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2048 - Prepared Feeds & Feed Ingredients for Animals & Fo

NAICS Code

311119 - Animal Food Manufacturing

Loan Approval Date

8/18/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 5 employees. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Forward had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Forward 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.

Related Links:

Accountant's Role in Securing Financing

Where to Get an SBA Loan in New Rockford, North Dakota

North Dakota SBA Banks