How to Get a Loan for Boat Dealers

Looking for business loans for boat dealers? An SBA loan may be just what you've been looking for. This $309,200 boat dealers loan was issued by a North Dakota bank.

This small business knew how to go about getting a business bank loan. Based in Bottineau, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was State Bank Of Bottineau, based in Bottineau, North Dakota.

SBA Loan Borrower

COMPANY TYPE: BOAT DEALERS
BOTTINEAU, ND 58318

SBA Loan Lender

STATE BANK OF BOTTINEAU
514 THOMPSON
BOTTINEAU, ND 58318

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5551 - Boat Dealers

NAICS Code

441222 - Boat Dealers

Loan Approval Date

6/4/2002

Loan Approval Gross Amount

$309,200

Loan Approval from the SBA

Of the total $309,200 loan amount, the SBA guaranteed $231,900.

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 7 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 State Bank Of Bottineau 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:

Realistic Debt Financing Options

SBA 7A Banks for Bottineau, North Dakota Loans

North Dakota SBA 7A Lenders