SBA Loan from State Bank Of Hawley Helps Lawn And Garden Services Company

State Bank Of Hawley has a track record as a leading provider of SBA loans. Find out how this North Dakota entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fargo, North Dakota was able to borrow $36,450 from State Bank Of Hawley. The SBA made the loan possible by guaranteeing $30,982 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: LAWN AND GARDEN SERVICES
FARGO, ND 58104

SBA Loan Lender

STATE BANK OF HAWLEY
3004 14TH ST SOUTH
MOORHEAD, MN 56560

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0782 - Lawn and Garden Services

NAICS Code

561730 - Landscaping Services

Loan Approval Date

12/1/2003

Loan Approval Gross Amount

$36,450

Loan Approval from the SBA

Of the total $36,450 loan amount, the SBA guaranteed $30,982.

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 8 employees. The SBA loan documents did not indicate that the small business planned to use the funding to add 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like State Bank Of Hawley are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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