Company Gets a North Dakota Small Business Loan

North DakotaSBA loans are available to North Dakota entrepreneurs 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 2005. Banks like American Bank Center First may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT
BISMARCK, ND 58503

SBA Loan Lender

AMERICAN BANK CENTER FIRST
320 N 4TH ST
BISMARCK, ND 58501

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3599 - Industrial and Commercial Machinery and Equipment

NAICS Code

333999 - General Purpose Machinery Manufacturing

Loan Approval Date

11/8/2005

Loan Approval Gross Amount

$242,208

Loan Approval from the SBA

Of the total $242,208 loan amount, the SBA guaranteed $181,656.

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 22 employees. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

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

Related Links:

Microlending as a Small Business Funding Source

SBA 7A Banks in Bismarck, North Dakota

Getting an SBA Loan in North Dakota