Entrepreneur Works With Bismarck, North Dakota Bank to Get an SBA Loan

Want to talk with a Bismarck, North Dakota bank about a business loan? Here's one North Dakota business loan, issued by a Bismarck bank, that was approved by the SBA.

Applying for an SBA loan with American Bank Center First worked out well for our friends at one local business in Bismarck, North Dakota. They received an SBA loan for $98,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: PHYSICAL, OCCUPATIONAL AND SPEECH THERAPISTS, AND AUDIOLOGISTS
BISMARCK, ND 58503

SBA Loan Lender

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

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621340 - Physical, Occupational and Speech Therapists, and Audiologists

Loan Approval Date

6/28/2005

Loan Approval Gross Amount

$98,000

Loan Approval from the SBA

Of the total $98,000 loan amount, the SBA guaranteed $83,300.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $98,000. How would you spend $98,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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