Animal Food Manufacturing Commercial Loans

With these commercial loans for animal food manufacturing, the SBA guarantees the lender that the loan will be repaid. This animal food manufacturing loan for $745,000 was given to a North Dakota entrepreneur in 2003.

Getting a small business loan in Walcott, North Dakota was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Lincoln State Bank, operating out of Hankinson, 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
WALCOTT, ND 58077

SBA Loan Lender

LINCOLN STATE BANK
302 S MAIN ST
HANKINSON, ND 58041

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 bank loans to American small businesses.

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

6/10/2003

Loan Approval Gross Amount

$745,000

Loan Approval from the SBA

Of the total $745,000 loan amount, the SBA guaranteed $558,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Angel Investors

SBA 7A Lenders in Hankinson, North Dakota

SBA Participating Banks in North Dakota