North Dakota SBA Loan Issued to Automotive And Apparel Trimmings Company

Would a North Dakota bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this North Dakota bank, which offers SBA loans to North Dakota entrepreneurs.

Getting a small business loan in Fargo, North Dakota was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from State Bank & Trust. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE AND APPAREL TRIMMINGS
FARGO, ND 58103

SBA Loan Lender

STATE BANK & TRUST
3100 13TH AVE SW
FARGO, ND 58103

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2396 - Automotive and Apparel Trimmings

NAICS Code

323113 - Commercial Screen Printing

Loan Approval Date

6/23/2006

Loan Approval Gross Amount

$27,000

Loan Approval from the SBA

Of the total $27,000 loan amount, the SBA guaranteed $22,950.

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 5 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

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.

While you may be able to find other ways to get money to start a business, 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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