Ellendale, North Dakota Business Gets SBA-Guaranteed Funding from Starion Financial

Starion Financial 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.

Getting a small business loan in Ellendale, North Dakota was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Starion Financial, operating out of Bismarck, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
ELLENDALE, ND 58436

SBA Loan Lender

STARION FINANCIAL
333 N 4TH
BISMARCK, ND 58501

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448190 - Clothing Stores

Loan Approval Date

6/9/2005

Loan Approval Gross Amount

$13,000

Loan Approval from the SBA

Of the total $13,000 loan amount, the SBA guaranteed $11,050.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Starion Financial so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

SBIR Funding

SBA 7A Banks for Bismarck, North Dakota Loans

Where to Get an SBA Loan North Dakota