Business Loans for Concrete Block and Brick Manufacturing

With these business loans for concrete block and brick manufacturing, the SBA guarantees the lender that the loan will be repaid. This concrete block and brick manufacturing loan for $90,000 was given to a North Dakota entrepreneur in 2003.

Getting a small business loan in Devil's Lake, North Dakota was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from The First State Bank Of Munich, operating out of Devils Lake, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: CONCRETE BLOCK AND BRICK MANUFACTURING
DEVIL'S LAKE, ND 58301

SBA Loan Lender

THE FIRST STATE BANK OF MUNICH
205 HWY 2 WEST
DEVILS LAKE, ND 58301

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

327331 - Concrete Block and Brick Manufacturing

Loan Approval Date

10/1/2003

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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The First State Bank Of Munich had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The First State Bank Of Munich 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.

Related Links:

The Friends and Family Network

Find an SBA Lender in Devils Lake, North Dakota

Getting a Business Loan in North Dakota