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December 22, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Munich, Business Loans > The First State Bank Of Munich Munich Business Loans > Pleating, Decorative And Novelty Stitching Loan | ||||
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The First State Bank Of Munich
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The First State Bank Of Munich SBA Loan to Pleating, Decorative And Novelty Stitching CompanyThe First State Bank Of Munich is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one North Dakota entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Devils Lake, North Dakota was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from The First State Bank Of Munich, operating out of Munich, North Dakota. Here are the details on this North Dakota small business loan. SBA Loan Borrower COMPANY TYPE: PLEATING, DECORATIVE AND NOVELTY STITCHING SBA Loan Lender THE FIRST STATE BANK OF MUNICH This lender issued this SBA bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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 2395 - Pleating, Decorative and Novelty Stitching NAICS Code 314999 - Textile Product Mills Loan Approval Date 10/29/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Obtaining Funding - Friends and Family SBA Approved Banks in Munich, North Dakota Getting an SBA Loan in North Dakota
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