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November 14, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Mandan, Business Loans > Security 1st Bank - No. Dakota Mandan Business Loans > Furniture Loan | ||||
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Small Business Banks That Lend to North Dakota Small Business Owners
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North Dakota Bank Loan Issued to Furniture CompanyBusiness loans in North Dakota are are few and far betweeen these days. We take a look at one North Dakota business loan, provided by a North Dakota bank, that was approved by the SBA. Getting a small business loan in Bismarck, North Dakota was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Security 1st Bank - No. Dakota. Here are the details on this North Dakota small business loan. SBA Loan Borrower COMPANY TYPE: FURNITURE SBA Loan Lender SECURITY 1ST BANK - NO. DAKOTA This lender issued this small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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. SIC Code 5021 - Furniture NAICS Code 442110 - Furniture Stores Loan Approval Date 4/26/2006 Loan Approval Gross Amount $360,000 Loan Approval from the SBA Of the total $360,000 loan amount, the SBA guaranteed $270,000. 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 7 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Security 1st Bank - No. Dakota are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: How Much Venture Capital Is There? SBA 7A Lenders in Mandan, North Dakota Browse All Business Loan Sources for North Dakota
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