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November 23, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Hebron, Business Loans > Dakota Commun Bank Hebron Business Loans > Individual And Family Services Loan | ||||
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ND SBA Loan from Dakota Commun Bank
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Dickinson, North Dakota Business Gets SBA-Guaranteed Funding from Dakota Commun BankDakota Commun Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a North Dakota entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dickinson, North Dakota was able to borrow $38,035 from Dakota Commun Bank. The SBA made the loan possible by guaranteeing $19,017 of this North Dakota small business loan. SBA Loan Borrower COMPANY TYPE: INDIVIDUAL AND FAMILY SERVICES SBA Loan Lender DAKOTA COMMUN BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 624190 - Individual and Family Services Loan Approval Date 2/16/2006 Loan Approval Gross Amount $38,035 Loan Approval from the SBA Of the total $38,035 loan amount, the SBA guaranteed $19,017. More Information on This SBA Loan The borrower borrowed this money for a new 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 generate 4 new jobs and retain 4 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 Dakota Commun 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. Related Links: Banking Deregulation's Effects on Entrepreneurship Small Bank Loans in Hebron, North Dakota
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