Grand Forks, North Dakota Business Gets SBA-Guaranteed Funding from Alerus Financial

An SBA loan from Alerus Financial typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Grand Forks, North Dakota business owner got a $350,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Alerus Financial, out of Grand Forks, North Dakota. The loan was granted and they received $350,000 to help grow their Grand Forks, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: GRAIN AND FIELD BEAN MERCHANT WHOLESALERS
GRAND FORKS, ND 58203

SBA Loan Lender

ALERUS FINANCIAL
401 DEMERS AVE
GRAND FORKS, ND 58201

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

424510 - Grain and Field Bean Merchant Wholesalers

Loan Approval Date

9/14/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Grand Forks or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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