Borrowing Money for Postharvest Crop Activities

With these bank loans for postharvest crop activities, the SBA guarantees the lender that the loan will be repaid. This postharvest crop activities loan for $1,100,000 was given to a North Dakota entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Grand Forks, North Dakota was able to borrow $1,100,000 from Choice Financial Group. The SBA made the loan possible by guaranteeing $825,000 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: CROP PREPARATION SERVICE FOR MARKET
GRAND FORKS, ND 58201

SBA Loan Lender

CHOICE FINANCIAL GROUP
645 HILL AVE
GRAFTON, ND 58237

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0723 - Crop Preparation Service for Market

NAICS Code

115114 - Postharvest Crop Activities

Loan Approval Date

6/19/2001

Loan Approval Gross Amount

$1,100,000

Loan Approval from the SBA

Of the total $1,100,000 loan amount, the SBA guaranteed $825,000.

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 7 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

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

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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