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May 17, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > La Moure, Business Loans > First St. Bank - No. Dakota La Moure Business Loans > Hardware Stores Loan | ||||
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SBA Lenders North Dakota
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Entrepreneur Works With La Moure, North Dakota Bank to Get an SBA LoanA La Moure, North Dakota SBA loan can be yours. Learn how a business got a $215,000 business loan from this North Dakota bank. This loan to a local firm is a good example of an SBA loan. First St. Bank - No. Dakota made the loan and the SBA guaranteed a portion of the loan. Many other North Dakota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: HARDWARE STORES SBA Loan Lender FIRST ST. BANK - NO. DAKOTA SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5251 - Hardware Stores NAICS Code 444130 - Hardware Stores Loan Approval Date 6/5/2003 Loan Approval Gross Amount $215,000 Loan Approval from the SBA Of the total $215,000 loan amount, the SBA guaranteed $161,250. 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 3 employees. The SBA loan documents did not indicate that the business planned to use the money to add 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 SBA Approved Banks in La Moure, North Dakota
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