Fargo, North Dakota Entrepreneur Gets a Business Loan

North DakotaSmall business loans are available to North Dakota small business owners through the SBA. In this case, a North Dakota bank provides the loan.

Getting a small business loan in Fargo, North Dakota was a top priority for this small company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Choice Financial Group. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: PAINT AND COATING MANUFACTURING
FARGO, ND 58102

SBA Loan Lender

CHOICE FINANCIAL GROUP
210 SHEYENNE ST
WEST FARGO, ND 58078

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

325510 - Paint and Coating Manufacturing

Loan Approval Date

12/27/2007

Loan Approval Gross Amount

$475,000

Loan Approval from the SBA

Of the total $475,000 loan amount, the SBA guaranteed $356,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in Fargo or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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