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November 14, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Fargo, Business Loans > State Bank & Trust Fargo Business Loans > Women's Clothing Stores Loan | ||||
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North Dakota SBA Banks
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Fargo, North Dakota Bank Gives SBA Loan to Women's Clothing Stores CompanyThinking about meeting with a Fargo, North Dakota bank about an SBA 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 State Bank & Trust worked out well for our friends at one local company in Fargo, North Dakota. They got an SBA loan for $30,000. Nice! SBA Loan Borrower COMPANY TYPE: WOMEN'S CLOTHING STORES SBA Loan Lender STATE BANK & TRUST This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program involves 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. NAICS Code 448120 - Women's Clothing Stores Loan Approval Date 1/14/2004 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $25,500. 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 3 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Small Bank Loans in Fargo, North Dakota
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