Entrepreneur Works With Fargo, North Dakota Bank to Get an SBA Loan

Thinking about meeting with a Fargo, North Dakota bank about a small business loan? Here's one North Dakota business loan, issued by a Fargo bank, that was approved by the SBA.

Applying for an SBA loan with Wells Fargo Bank worked out well for our friends at one local business in Fargo, North Dakota. The business was able to get an SBA loan for $193,500. Nice!

SBA Loan Borrower

COMPANY TYPE: PHOTOGRAPHIC EQUIPMENT AND SUPPLIES
FARGO, ND 58102

SBA Loan Lender

WELLS FARGO BANK
406 MAIN AVE
FARGO, ND 58103

When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program was created to offer rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3861 - Photographic Equipment and Supplies

NAICS Code

325992 - Photographic Film, Paper, Plate, and Chemical Manufacturing

Loan Approval Date

1/26/2004

Loan Approval Gross Amount

$193,500

Loan Approval from the SBA

Of the total $193,500 loan amount, the SBA guaranteed $145,125.

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 6 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wells Fargo Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wells Fargo Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Obtaining Funding - Friends and Family

SBA 7A Banks in Fargo, North Dakota

North Dakota SBA Bank Lenders