Local Business Gets a North Dakota Small Business Loan

North DakotaBusiness loans are available to North Dakota business owners through the SBA. In this case, a North Dakota bank provides the loan.

You can learn something about getting a small business loan in Bismarck, North Dakota by studying this loan to a local business, made back in 2000. Banks like Dakota Commun Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS
BISMARCK, ND 58501

SBA Loan Lender

DAKOTA COMMUN BANK
1727 N STATE ST
BISMARCK, ND 58501

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

7538 - General Automotive Repair Shops

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

4/24/2000

Loan Approval Gross Amount

$67,800

Loan Approval from the SBA

Of the total $67,800 loan amount, the SBA guaranteed $54,240.

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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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Best Banks for Small Business in Bismarck, North Dakota

North Dakota SBA Bank Lenders