Meat Processed from Carcasses Small Business Loans

With these small business loans for meat processed from carcasses, the SBA guarantees the lender that the loan will be repaid. This meat processed from carcasses loan for $484,000 was given to a North Dakota entrepreneur in 2005.

This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Amer St. Bank & Trust - Willisto, out of Williston, North Dakota. The loan was granted and they received $484,000 to help grow their Williston, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: MEATS AND MEAT PRODUCTS
WILLISTON, ND 58801

SBA Loan Lender

AMER ST. BANK & TRUST - WILLISTO
223 MAIN ST
WILLISTON, ND 58802

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 small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5147 - Meats and Meat Products

NAICS Code

311612 - Meat Processed from Carcasses

Loan Approval Date

3/21/2005

Loan Approval Gross Amount

$484,000

Loan Approval from the SBA

Of the total $484,000 loan amount, the SBA guaranteed $363,000.

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 5 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Amer St. Bank & Trust - Willisto that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Incubators

Best Banks for Small Business in Williston, North Dakota

Getting an SBA Loan in North Dakota