Fargo, North Dakota Entrepreneur Gets a Small Business Loan

Want a North Dakota business loan? This North Dakota entrepreneur got a business loan, provided by a North Dakota bank that works with the SBA to help small business owners.

This small business, based in Fargo, 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 Visionbank. We've got the inside scoop on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: JEWELRY STORES
FARGO, ND 58103

SBA Loan Lender

VISIONBANK
3000 25TH ST SOUTH
FARGO, ND 58103

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5944 - Jewelry Stores

NAICS Code

448310 - Jewelry Stores

Loan Approval Date

7/28/2005

Loan Approval Gross Amount

$1,247,000

Loan Approval from the SBA

Of the total $1,247,000 loan amount, the SBA guaranteed $935,250.

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 5 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,247,000 loan. Remember, things become real when you believe you can achieve them!

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:

Choosing VC Firms

SBA Participating Banks in Fargo, North Dakota

North Dakota SBA 7A Banks