Williston, North Dakota Bank Lends Money to Telephone Communications Company in Grenora, North Dakota

Want to talk with a Williston, North Dakota bank about an SBA loan? Here's one North Dakota business loan, issued by a Williston bank, that was approved by the SBA.

Applying for an SBA loan with First Internatl Bank & Tr worked out well for our friends at one local business in Grenora, North Dakota. They got an SBA loan for $150,000. Great job!

SBA Loan Borrower

COMPANY TYPE: TELEPHONE COMMUNICATIONS
GRENORA, ND 58845

SBA Loan Lender

FIRST INTERNATL BANK & TR
19 4TH ST EAST
WILLISTON, ND 58801

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4813 - Telephone Communications

NAICS Code

561421 - Telephone Answering Services

Loan Approval Date

10/18/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 36 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Internatl Bank & Tr are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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