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November 14, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Fargo, Business Loans > State Bank & Trust Fargo Business Loans > Heavy Construction Loan | ||||
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Banks for Small Business Owners in North Dakota
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North Dakota SBA Loan Issued to Heavy Construction CompanyLooking to get a North Dakota bank loan? This North Dakota entrepreneur got a bank loan, provided by a North Dakota bank that works with the SBA to help small business owners. By giving the right information to State Bank & Trust, this Fargo, North Dakota business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: HEAVY CONSTRUCTION SBA Loan Lender STATE BANK & TRUST This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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 1629 - Heavy Construction NAICS Code 237990 - Heavy and Civil Engineering Construction Loan Approval Date 5/3/2006 Loan Approval Gross Amount $220,000 Loan Approval from the SBA Of the total $220,000 loan amount, the SBA guaranteed $165,000. 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 30 employees. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like State Bank & Trust and they will explain how you can get an SBA loan for your company. 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: Where to Get an SBA Loan in Fargo, North Dakota
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