Small Business Loans for Soil Preparation, Planting, and Cultivating

With these small business loans for soil preparation, planting, and cultivating, the SBA guarantees the lender that the loan will be repaid. This soil preparation, planting, and cultivating loan for $145,000 was given to a North Dakota entrepreneur in 2002.

Getting a small business loan in Mohall, North Dakota was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from United Commun Bank - No. Dakota, operating out of Minot, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: SOIL PREPARATION, PLANTING, AND CULTIVATING
MOHALL, ND 58761

SBA Loan Lender

UNITED COMMUN BANK - NO. DAKOTA
925 20TH AVE SW
MINOT, ND 58702

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.

NAICS Code

115112 - Soil Preparation, Planting, and Cultivating

Loan Approval Date

4/23/2002

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $123,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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