Where to Get Capital for Farm Machinery and Equipment Manufacturing

Looking for small business loans for farm machinery and equipment manufacturing? Try the SBA. This $90,000 farm machinery and equipment manufacturing loan was issued by a North Dakota bank.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First United Bank, out of Grafton, North Dakota. The loan was granted and they received $90,000 to help grow their Cavalier, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: FARM MACHINERY AND EQUIPMENT MANUFACTURING
CAVALIER, ND 58276

SBA Loan Lender

FIRST UNITED BANK
1011 W 11TH ST
GRAFTON, ND 58237

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

333111 - Farm Machinery and Equipment Manufacturing

Loan Approval Date

3/19/2004

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This SBA loan was for $90,000. How would you spend $90,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Investor Turnoffs

SBA Banks in Grafton, North Dakota

Where to Get an SBA Loan North Dakota