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.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New Rockford, North Dakota was able to borrow $100,000 from Bank Forward. The SBA made the loan possible by guaranteeing $85,000 of 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

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to to our country's hard-working small business owners.

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

115113 - Crop Harvesting, Primarily by Machine

Loan Approval Date

8/13/2002

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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

We can help you find the best banks for small businesses in New Rockford or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

The Friends and Family Network

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

Getting a Business Loan in North Dakota