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May 9, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Grand Forks, Business Loans > Bremer Bank Grand Forks Business Loans > Grocery Stores Loan | ||||
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SBA 7A Banks in North Dakota
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Financing for Supermarkets and Grocery StoresLooking for commercial loans for supermarkets and grocery stores? Talk to a banker who works with the SBA. This $260,000 supermarkets and grocery stores loan was issued by a North Dakota bank. This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Bremer Bank, out of Grand Forks, North Dakota. The loan was granted and they received $260,000 to help grow their Northwood, North Dakota business. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender BREMER BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide 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 5411 - Grocery Stores NAICS Code 445110 - Supermarkets and Grocery Stores Loan Approval Date 9/8/2005 Loan Approval Gross Amount $260,000 Loan Approval from the SBA Of the total $260,000 loan amount, the SBA guaranteed $195,000. 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 20 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bremer Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bremer Bank 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 Best Grand Forks, North Dakota Banks for Small Business
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