Financing for Commercial and Service Industry Machinery Manufacturing

Looking for loans for commercial and service industry machinery manufacturing? Talk to a banker who works with the SBA. This $300,000 commercial and service industry machinery manufacturing loan was issued by a North Dakota bank.

Getting a small business loan in Grand Forks, North Dakota was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Ramsey National Bank & Trust - Devi, operating out of Fargo, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL MACHINERY, EQUIPMENT, AND SUPPLIES
GRAND FORKS, ND 58201

SBA Loan Lender

RAMSEY NATIONAL BANK & TRUST - DEVI
3232 25TH ST SOUTH
FARGO, ND 58106

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3699 - Electrical Machinery, Equipment, and Supplies

NAICS Code

333319 - Commercial and Service Industry Machinery Manufacturing

Loan Approval Date

12/12/2003

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 6 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Ramsey National Bank & Trust - Devi had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Ramsey National Bank & Trust - Devi made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Role of Business Plan When Raising Money

SBA 7A Banks in Fargo, North Dakota

North Dakota SBA Banks