Emerado, North Dakota Entrepreneur Gets a Bank Loan

North DakotaBusiness loans are available to North Dakota business owners through the SBA. In this case, a North Dakota bank provides the loan.

This small business, based in Emerado, North Dakota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Citizens Community Cu. We've got the inside scoop on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: LANDSCAPING SERVICES
EMERADO, ND 58228

SBA Loan Lender

CITIZENS COMMUNITY CU
1117 HWY 2 SE
DEVILS LAKE, ND 58301

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

561730 - Landscaping Services

Loan Approval Date

6/27/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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. The SBA loan documents indicated that the loan would help generate 1 new job and retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Emerado ND, you ought to talk with a local Emerado SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Emerado businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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 - How to Decide How Much to Raise

Where to Get an SBA Loan in Devils Lake, North Dakota

SBA Participating Banks in North Dakota