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

Get to know Kenmare, North Dakota banks that specialize in business loans and know how to work with entrepreneurs. State Bank & Trust Of Kenmare is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Bottineau, North Dakota starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from State Bank & Trust Of Kenmare. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
BOTTINEAU, ND 58318

SBA Loan Lender

STATE BANK & TRUST OF KENMARE
4 NW SECOND ST
KENMARE, ND 58746

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program requires 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.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

3/5/2001

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like State Bank & Trust Of Kenmare and they will explain how you can get an SBA loan for your company.

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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