West Fargo, North Dakota Bank Gives SBA Loan to Food Supplement Stores Company

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

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

SBA Loan Borrower

COMPANY TYPE: FOOD SUPPLEMENT STORES
GRAND FORKS, ND 58201

SBA Loan Lender

ALERUS FINANCIAL
901 13TH AVE EAST
WEST FARGO, ND 58078

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446191 - Food Supplement Stores

Loan Approval Date

8/11/2003

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $21,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business in Grand Forks ND, you ought to talk with a local Grand Forks SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Grand Forks businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Alerus Financial so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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