Dickinson, North Dakota Entrepreneur Gets an SBA Loan

Would a North Dakota small business loan help your small business to grow and prosper? If so, you may want to talk with this North Dakota bank, which offers SBA loans to North Dakota entrepreneurs.

By giving the right information to Great Plains National Bank, this Dickinson, North Dakota business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: HIGHWAY, STREET, AND BRIDGE CONSTRUCTION
DICKINSON, ND 58601

SBA Loan Lender

GREAT PLAINS NATIONAL BANK
201 MAIN ST NORTH
BELFIELD, ND 58622

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

237310 - Highway, Street, and Bridge Construction

Loan Approval Date

11/29/2004

Loan Approval Gross Amount

$115,000

Loan Approval from the SBA

Of the total $115,000 loan amount, the SBA guaranteed $97,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

We can help you find the best banks for small businesses in Dickinson or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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