Loan Census Banking News and Information
December 22, 2024  
 
 
  Business Loan Information  
 

Get a Small Business Loan in Fargo, North Dakota

 

 
Loan Census SBA Loan Info

Bank Of The West Gives Business Loan to Specialized Local Freight Trucking Company

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

You can learn something about getting a small business loan in Fargo, North Dakota by studying this loan to a local company, made back in 2004. Banks like Bank Of The West may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALIZED LOCAL FREIGHT TRUCKING
FARGO, ND 58107

SBA Loan Lender

BANK OF THE WEST
142 EAST 200 SOUTH
SALT LAKE CITY, UT 84111

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484220 - Specialized Local Freight Trucking

Loan Approval Date

7/27/2004

Loan Approval Gross Amount

$1,750,000

Loan Approval from the SBA

Of the total $1,750,000 loan amount, the SBA guaranteed $875,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 17 employees. The SBA loan application for the borrower indicated that the loan would help retain 15 existing jobs.

Next Steps for Getting an SBA Loan

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of The West and they will explain how you can get an SBA loan for your company.

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:

Business Incubators

Who Lends Money to Small Businesses in Salt Lake City, Utah

Utah SBA 7A Lenders