Fargo, North Dakota Bank Lends Money to Water And Sewer Line And Related Structures Construction Company in Dalton, Minnesota

Get to know Fargo, North Dakota banks that specialize in business loans and know how to work with entrepreneurs. American Federal Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Dalton, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from American Federal Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: WATER AND SEWER LINE AND RELATED STRUCTURES CONSTRUCTION
DALTON, MN 56324

SBA Loan Lender

AMERICAN FEDERAL BANK
215 N FIFTH ST
FARGO, ND 58108

This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

237110 - Water and Sewer Line and Related Structures Construction

Loan Approval Date

9/10/2007

Loan Approval Gross Amount

$163,000

Loan Approval from the SBA

Of the total $163,000 loan amount, the SBA guaranteed $81,500.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 American Federal Bank 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.

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