Fairmount, North Dakota Bank Lends Money to Heavy Construction Company in Fairmount, North Dakota

Get business loans from a Fairmount, North Dakota bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Peoples State Bank is a Fairmount, North Dakota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a North Dakota company.

SBA Loan Borrower

COMPANY TYPE: HEAVY CONSTRUCTION
FAIRMOUNT, ND 58030

SBA Loan Lender

PEOPLES STATE BANK
201 MAIN AVE
FAIRMOUNT, ND 58030

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1629 - Heavy Construction

NAICS Code

234990 - Heavy Construction

Loan Approval Date

5/15/2002

Loan Approval Gross Amount

$550,000

Loan Approval from the SBA

Of the total $550,000 loan amount, the SBA guaranteed $412,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 37 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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.

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