Grafton, North Dakota Bank Lends Money to Full-Service Restaurants Company in Grafton, North Dakota

Get to know Grafton, North Dakota banks that specialize in business loans and know how to work with entrepreneurs. Choice Financial Group is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Grafton, North Dakota starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Choice Financial Group. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
GRAFTON, ND 58237

SBA Loan Lender

CHOICE FINANCIAL GROUP
645 HILL AVE
GRAFTON, ND 58237

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

722110 - Full-Service Restaurants

Loan Approval Date

2/23/2006

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $35,000.

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 5 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs.

Getting an SBA Loan For Your 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.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

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Accountant's Role in Securing Financing

Small Bank Loans in Grafton, North Dakota

SBA Lenders in North Dakota