U.S. Bank National Association Gives SBA Loan to Clothing Accessories Stores Company

Bank loans in North Dakota are are few and far betweeen these days. We take a look at one North Dakota bank loan, provided by an Ohio bank, that was approved by the SBA.

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 U.S. Bank National Association. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: CLOTHING ACCESSORIES STORES
FARGO, ND 58102

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448150 - Clothing Accessories Stores

Loan Approval Date

7/24/2006

Loan Approval Gross Amount

$131,100

Loan Approval from the SBA

Of the total $131,100 loan amount, the SBA guaranteed $111,435.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 3 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Equity Financing

Where to Get an SBA Loan in Cincinnati, Ohio

SBA Participating Banks in Ohio