Minot, North Dakota Bank Gives SBA Loan to Coin-Operated Laundries And Drycleaners Company

Want to talk with a Minot, North Dakota bank about a business loan? Here's one North Dakota business loan, issued by a Minot bank, that was approved by the SBA.

Applying for an SBA loan with Bremer Bank worked out well for our friends at one local business in Devils Lake, North Dakota. They got an SBA loan for $151,500. Great job!

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
DEVILS LAKE, ND 58301

SBA Loan Lender

BREMER BANK
20 FIRST ST SOUTHWEST
MINOT, ND 58701

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

1/31/2005

Loan Approval Gross Amount

$151,500

Loan Approval from the SBA

Of the total $151,500 loan amount, the SBA guaranteed $75,750.

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 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Debt Financing

Where to Get an SBA Loan in Minot, North Dakota

Getting a Business Loan in North Dakota