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May 15, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Portland, Business Loans > The First And Farmers Bank Portland Business Loans > Grain And Field Beans Loan | ||||
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North Dakota Small Business SBA Loans
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Company Gets a North Dakota SBA LoanSearching for a North Dakota SBA loan? This North Dakota entrepreneur got an SBA loan, provided by a North Dakota bank that works with the SBA to help small business owners. By giving the right information to The First And Farmers Bank, this Portland, North Dakota business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: GRAIN AND FIELD BEANS SBA Loan Lender THE FIRST AND FARMERS BANK This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5153 - Grain and Field Beans NAICS Code 115114 - Postharvest Crop Activities Loan Approval Date 4/25/2003 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 32 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $300,000 loan. Remember, you control your own destiny. 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: SBA 7A Banks in Portland, North Dakota
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