Farm Product Warehousing and Storage Bank Loans

Looking for bank loans for farm product warehousing and storage? Talk to a banker who works with the SBA. This $500,000 farm product warehousing and storage loan was issued by a North Dakota bank.

Getting a small business loan in Hague, North Dakota was important for this growing firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Strasburg State Bank, operating out of Strasburg, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: FARM PRODUCT WAREHOUSING AND STORAGE
HAGUE, ND 58542

SBA Loan Lender

STRASBURG STATE BANK
720 MAIN ST
STRASBURG, ND 58573

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4221 - Farm Product Warehousing and Storage

NAICS Code

493130 - Farm Product Warehousing and Storage

Loan Approval Date

2/5/2007

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 6 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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:

Debt Financing

Where to Get an SBA Loan in Strasburg, North Dakota

North Dakota SBA 7A Lenders