Financing for Soil Preparation, Planting, and Cultivating

Looking for loans for soil preparation, planting, and cultivating? The SBA may be the answer. This $275,000 soil preparation, planting, and cultivating loan was issued by a North Dakota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Beulah, North Dakota was able to borrow $275,000 from Union State Bank. The SBA made the loan possible by guaranteeing $206,250 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: CROP PLANTING, CULTIVATING, AND PROTECTING
BEULAH, ND 58523

SBA Loan Lender

UNION STATE BANK
209 CENTRAL AVE NORTH
HAZEN, ND 58545

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0721 - Crop Planting, Cultivating, and Protecting

NAICS Code

115112 - Soil Preparation, Planting, and Cultivating

Loan Approval Date

1/23/2002

Loan Approval Gross Amount

$275,000

Loan Approval from the SBA

Of the total $275,000 loan amount, the SBA guaranteed $206,250.

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 6 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Union State Bank 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.

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SBA 7A Banks in Hazen, North Dakota

North Dakota SBA 7A Lenders