Bank Of The West Gives Small Business Loan to Grain And Field Bean Wholesalers Company

Small business loans in North Dakota are are few and far betweeen these days. We take a look at one North Dakota small business loan, provided by an Utah bank, that was approved by the SBA.

Getting a small business loan in Colfax, North Dakota was a top priority for this small company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Bank Of The West. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: GRAIN AND FIELD BEAN WHOLESALERS
COLFAX, ND 58018

SBA Loan Lender

BANK OF THE WEST
142 EAST 200 SOUTH
SALT LAKE CITY, UT 84111

This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

422510 - Grain and Field Bean Wholesalers

Loan Approval Date

3/22/2002

Loan Approval Gross Amount

$1,100,800

Loan Approval from the SBA

Of the total $1,100,800 loan amount, the SBA guaranteed $825,600.

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 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs.

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

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Equity Financing

SBA 7A Banks in Salt Lake City, Utah

Find an SBA Lender in Utah