Local Business Gets a North Dakota Business Loan

Would a North Dakota business loan help your company expand? If so, you may want to talk with this North Dakota bank, which offers SBA loans to North Dakota entrepreneurs.

This small business, based in Cavalier, North Dakota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from United Valley Bank. We've got the inside scoop on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
CAVALIER, ND 58220

SBA Loan Lender

UNITED VALLEY BANK
211 DIVISION AVE SOUTH
CAVALIER, ND 58220

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

445120 - Convenience Stores

Loan Approval Date

5/21/2003

Loan Approval Gross Amount

$129,800

Loan Approval from the SBA

Of the total $129,800 loan amount, the SBA guaranteed $110,330.

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 6 employees. 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 loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like United Valley Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Small Business Loan

Where to Get an SBA Loan in Cavalier, North Dakota

Getting a Business Loan in North Dakota