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December 19, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Grand Forks, Business Loans > Bremer Bank Grand Forks Business Loans > Industrial Building Construction Loan | ||||
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How to Get SBA Money in Grand Forks, North Dakota
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Bremer Bank Gives Bank Loan to Industrial Building Construction CompanyWant a North Dakota bank loan? This North Dakota entrepreneur got a bank loan, provided by a North Dakota bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in Grand Forks, North Dakota by studying this loan to a local company, made back in 2006. Banks like Bremer Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL BUILDING CONSTRUCTION SBA Loan Lender BREMER BANK The lender provided this SBA 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 236210 - Industrial Building Construction Loan Approval Date 10/19/2006 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. 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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs. Getting an SBA Loan For Your Business If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding. 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: Obtaining Funding - Getting Venture Capital SBA Approved Banks in Grand Forks, North Dakota Where to Get an SBA Loan North Dakota
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