Alerus Financial Gives Small Business Loan to Lawyers Company

Small business loans in North Dakota are hard to find these days. We take a look at one North Dakota small business loan, provided by a North Dakota bank, that was approved by the SBA.

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 2005. Banks like Alerus Financial may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: LAWYERS
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

541110 - Lawyers

Loan Approval Date

6/15/2005

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $45,000.

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 9 employees. This SBA loan request indicated that the loan would help retain 9 existing jobs.

Next Steps for Getting an SBA Loan

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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Alerus Financial Gives Small Business Loan to Lawyers Company