American Federal Bank SBA Loan to Transportation Services Company

Searching for a North Dakota SBA loan? Here's one North Dakota business loan that was approved by the SBA.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with American Federal Bank, out of Fargo, North Dakota. The loan was granted and they received $75,000 to help grow their Fargo, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: TRANSPORTATION SERVICES
FARGO, ND 58107

SBA Loan Lender

AMERICAN FEDERAL BANK
1301 30TH AVE SOUTH
FARGO, ND 58103

This was a Low Documentation SBA loan. The SBA started 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4789 - Transportation Services

Loan Approval Date

9/28/2000

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $60,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Fargo ND, you ought to talk with a local Fargo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fargo businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from American Federal Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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 From a Venture Capitalist

SBA Approved Banks in Fargo, North Dakota

SBA Lenders in North Dakota