Aneta, North Dakota Bank Lends Money to Gift, Novelty, And Souvenir Shops Company in Cooperstown, North Dakota

Thinking about meeting with an Aneta, North Dakota bank about an SBA loan? Here's one North Dakota business loan, issued by an Aneta bank, that was approved by the SBA.

Applying for an SBA loan with First State Bank Of Sharon worked out well for our friends at one local business in Cooperstown, North Dakota. They got an SBA loan for $110,000. Nice!

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
COOPERSTOWN, ND 58425

SBA Loan Lender

FIRST STATE BANK OF SHARON
205 MAIN AVE
ANETA, ND 58212

This lender issued this small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5947 - Gift, Novelty, and Souvenir Shops

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

2/23/2000

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $82,500.

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 3 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Cooperstown ND, you ought to talk with a local Cooperstown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cooperstown businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First State Bank Of Sharon had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First State Bank Of Sharon made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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