Belcourt, North Dakota Business Gets SBA-Guaranteed Funding from Dacotah Bank

An SBA loan from Dacotah Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Belcourt, North Dakota business owner got a $68,000 loan.

Getting a small business loan in Belcourt, North Dakota was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Dacotah Bank, operating out of Rolla, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: LUMBER, PLYWOOD, MILLWORK, AND WOOD PANEL MERCHANT WHOLESALERS
BELCOURT, ND 58316

SBA Loan Lender

DACOTAH BANK
15 MAIN AVE EAST
ROLLA, ND 58367

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423310 - Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers

Loan Approval Date

1/9/2003

Loan Approval Gross Amount

$68,000

Loan Approval from the SBA

Of the total $68,000 loan amount, the SBA guaranteed $57,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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.

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