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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 > Tires And Tubes Loan | ||||
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North Dakota SBA 7A Lenders
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Mandan, North Dakota Bank Lends Money to Tires And Tubes Company in Bismarck, North DakotaA Mandan, North Dakota business loan can be yours. Learn how a business got a $275,600 business loan from this North Dakota bank. This loan to an entrepreneur is a good example of an SBA loan. Security 1st Bank - No. Dakota made the loan and the SBA guaranteed a portion of the loan. Many other North Dakota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: TIRES AND TUBES SBA Loan Lender SECURITY 1ST BANK - NO. DAKOTA SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5014 - Tires and Tubes NAICS Code 423130 - Tire and Tube Merchant Wholesalers Loan Approval Date 4/24/2003 Loan Approval Gross Amount $275,600 Loan Approval from the SBA Of the total $275,600 loan amount, the SBA guaranteed $206,700. More Information on This SBA Loan The borrower borrowed this money for an existing 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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Security 1st Bank - No. Dakota and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA 7A Lenders in Mandan, North Dakota
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