SBA Loan from Dakota Western Bank Helps Support Activities For Animal Production Company

Dakota Western Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a North Dakota entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bowman, North Dakota was able to borrow $55,600 from Dakota Western Bank. The SBA made the loan possible by guaranteeing $47,260 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPPORT ACTIVITIES FOR ANIMAL PRODUCTION
BOWMAN, ND 58623

SBA Loan Lender

DAKOTA WESTERN BANK
202 S MAIN ST
BOWMAN, ND 58623

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

115210 - Support Activities for Animal Production

Loan Approval Date

10/7/2004

Loan Approval Gross Amount

$55,600

Loan Approval from the SBA

Of the total $55,600 loan amount, the SBA guaranteed $47,260.

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 documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $55,600 loan. Remember, if it to be, it is up to me!

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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