Grand Forks, South Dakota Business Gets SBA-Guaranteed Funding from Choice Financial Group

Choice Financial Group has a track record as a leading provider of SBA loans. Find out how this South Dakota entrepreneur received an SBA loan from them.

Getting a small business loan in Grand Forks, South Dakota was an essential business goal for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Choice Financial Group, operating out of Grafton, North Dakota. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: JEWELRY STORES
GRAND FORKS, SD 58201

SBA Loan Lender

CHOICE FINANCIAL GROUP
645 HILL AVE
GRAFTON, ND 58237

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448310 - Jewelry Stores

Loan Approval Date

9/21/2004

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money 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.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Choice Financial Group 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.

Related Links:

Attracting Investors

SBA Participating Banks in Grafton, North Dakota

North Dakota SBA 7A Lenders