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November 23, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Arthur, Business Loans > First St. Bank - No. Dakota Arthur Business Loans > Top And Body Repair And Paint Shops Loan | ||||
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Arthur, North Dakota SBA Lenders
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Arthur, North Dakota Lender Lends Money to Top And Body Repair And Paint Shops CompanyAn Arthur, North Dakota small business loan can be yours. Learn how a business got a $63,800 business loan from this North Dakota bank. This loan to a local firm is a good example of an SBA loan. First St. Bank - No. Dakota made the loan and the SBA guaranteed a portion of the loan. Many other North Dakota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: TOP AND BODY REPAIR AND PAINT SHOPS SBA Loan Lender FIRST ST. BANK - NO. DAKOTA 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 7532 - Top and Body Repair and Paint Shops NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 4/14/2000 Loan Approval Gross Amount $63,800 Loan Approval from the SBA Of the total $63,800 loan amount, the SBA guaranteed $51,040. 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 4 employees. The SBA loan documents did not indicate that the company planned to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 First St. Bank - No. Dakota 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: Obtaining Funding - Friends and Family SBA Banks in Arthur, North Dakota
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