Drayton State Bank SBA Loan to Drinking Places Company

An SBA loan from Drayton State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Drayton, North Dakota business owner got a $65,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Drayton, North Dakota, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Drayton State Bank, based in Drayton, North Dakota.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
DRAYTON, ND 58225

SBA Loan Lender

DRAYTON STATE BANK
104 S MAIN ST
DRAYTON, ND 58225

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

722410 - Drinking Places

Loan Approval Date

9/30/2005

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $32,500.

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 3 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 4 existing jobs.

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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Angel Investors

Banks in Drayton, North Dakota

North Dakota SBA 7A Lenders