Union State Bank Of Fargo SBA Loan to Metal Doors, Sash, Frames, Molding, And Trim Company

Union State Bank Of Fargo and the SBA work together to get business loans for growing small businesses. Here's an example of how a North Dakota entrepreneur was able to get a loan to take a small business to the next level.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Union State Bank Of Fargo, out of Fargo, North Dakota. The loan was granted and they received $68,000 to help grow their Fargo, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: METAL DOORS, SASH, FRAMES, MOLDING, AND TRIM
FARGO, ND 58102

SBA Loan Lender

UNION STATE BANK OF FARGO
4530 17TH AVE SOUTH
FARGO, ND 58103

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program requires 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

3442 - Metal Doors, Sash, Frames, Molding, and Trim

NAICS Code

332321 - Metal Window and Door Manufacturing

Loan Approval Date

5/15/2000

Loan Approval Gross Amount

$68,000

Loan Approval from the SBA

Of the total $68,000 loan amount, the SBA guaranteed $54,400.

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. This SBA loan request did not indicate that the company promised to use the funding to hire new 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Union State Bank Of Fargo that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Accountant's Role in Securing Financing

Small Business Banks in Fargo, North Dakota

SBA North Dakota Lenders