SBA Loan from Countrybank Usa Helps Automotive And Apparel Trimmings Company

An SBA loan from Countrybank Usa typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cando, North Dakota business owner got a $25,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cando, North Dakota was able to borrow $25,000 from Countrybank Usa. The SBA made the loan possible by guaranteeing $21,250 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE AND APPAREL TRIMMINGS
CANDO, ND 58324

SBA Loan Lender

COUNTRYBANK USA
505 4TH ST
CANDO, ND 58324

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.

SIC Code

2396 - Automotive and Apparel Trimmings

NAICS Code

323113 - Commercial Screen Printing

Loan Approval Date

3/6/2001

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

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 only one employee. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Countrybank Usa so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Microlending as a Small Business Funding Source

Small Business Banks in Cando, North Dakota

Where to Get an SBA Loan North Dakota