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May 14, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Washburn, Business Loans > Farmers Security Bank Washburn Business Loans > Excavation Work Loan | ||||
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SBA Lender Washburn, North Dakota
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Washburn, North Dakota Bank Lends Money to Excavation Work Company in Wilton, North DakotaGet SBA loans from a Washburn, North Dakota bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too. Farmers Security Bank is a Washburn, North Dakota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a North Dakota company. SBA Loan Borrower COMPANY TYPE: EXCAVATION WORK SBA Loan Lender FARMERS SECURITY BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1794 - Excavation Work NAICS Code 235930 - Excavation Contractors Loan Approval Date 6/14/2000 Loan Approval Gross Amount $26,000 Loan Approval from the SBA Of the total $26,000 loan amount, the SBA guaranteed $20,800. More Information on This SBA Loan The borrower borrowed this money for a new 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 only one employee. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business Remember, 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Farmers Security Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Determining Proper Capital Structure for a Business SBA 7A Banks in Washburn, North Dakota
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