Choice Financial Group SBA Loan to Soil Preparation, Planting, And Cultivating Company

An SBA loan from Choice Financial Group typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Grafton, North Dakota business owner got a $175,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Grafton, North Dakota was able to borrow $175,000 from Choice Financial Group. The SBA made the loan possible by guaranteeing $87,500 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: SOIL PREPARATION, PLANTING, AND CULTIVATING
GRAFTON, ND 58237

SBA Loan Lender

CHOICE FINANCIAL GROUP
645 HILL AVE
GRAFTON, ND 58237

The lender provided this 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

115112 - Soil Preparation, Planting, and Cultivating

Loan Approval Date

4/20/2005

Loan Approval Gross Amount

$175,000

Loan Approval from the SBA

Of the total $175,000 loan amount, the SBA guaranteed $87,500.

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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Grafton ND, you ought to talk with a local Grafton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Grafton businesses.

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:

Advice on Getting a Small Business Loan

SBA 7A Banks for Grafton, North Dakota Loans

Where to Get an SBA Loan North Dakota