Fargo, North Dakota Bank Gives SBA Loan to Building Material Dealers Company

Find Fargo, North Dakota banks that specialize in SBA loans and know how to work with entrepreneurs. American Federal Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Fertile, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from American Federal Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: BUILDING MATERIAL DEALERS
FERTILE, MN 56540

SBA Loan Lender

AMERICAN FEDERAL BANK
215 N FIFTH ST
FARGO, ND 58108

The lender provided this SBA bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

12/27/2006

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

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 6 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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.

We can help you find the best banks for small businesses in Fertile 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.

Related Links:

Realistic Debt Financing Options

Where to Get an SBA Loan in Fargo, North Dakota

Getting a Business Loan in North Dakota