First National Bank & Trust - Willis SBA Loan to Optical Instruments And Lenses Company

First National Bank & Trust - Willis and the SBA work together to get business loans for growing small businesses. Here's an example of how a North Dakota entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Crosby, North Dakota was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First National Bank & Trust - Willis, operating out of Williston, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: OPTICAL INSTRUMENTS AND LENSES
CROSBY, ND 58730

SBA Loan Lender

FIRST NATIONAL BANK & TRUST - WILLIS
105 26TH ST WEST
WILLISTON, ND 58801

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3827 - Optical Instruments and Lenses

NAICS Code

333314 - Optical Instrument and Lens Manufacturing

Loan Approval Date

9/2/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First National Bank & Trust - Willis and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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

Small Business Banks in Williston, North Dakota

SBA North Dakota Lenders