Strasburg, North Dakota Lender Lends Money to Grain And Field Beans Company

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

Applying for an SBA loan with Strasburg State Bank worked out well for our friends at one local company in Hague, North Dakota. The business was able to get an SBA loan for $500,000. Nice!

SBA Loan Borrower

COMPANY TYPE: GRAIN AND FIELD BEANS
HAGUE, ND 58542

SBA Loan Lender

STRASBURG STATE BANK
720 MAIN ST
STRASBURG, ND 58573

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5153 - Grain and Field Beans

NAICS Code

493130 - Farm Product Warehousing and Storage

Loan Approval Date

1/14/2005

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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application did not indicate that the SBA funding recipient planned 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?

Many small businesses receive loans backed by the U.S. Small Business Administration.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

Related Links:

Determining Proper Capital Structure for a Business

Small Business Banks in Strasburg, North Dakota

Getting an SBA Loan in North Dakota