The National Bank Of Harvey SBA Loan to Flour Milling Company

The National Bank Of Harvey has a track record as a leading provider of SBA loans. Find out how this North Dakota entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with The National Bank Of Harvey, out of Harvey, North Dakota. The loan was granted and they received $332,793 to help grow their Harvey, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: FLOUR MILLING
HARVEY, ND 58341

SBA Loan Lender

THE NATIONAL BANK OF HARVEY
920 LINCOLN AVE
HARVEY, ND 58341

This bank loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311211 - Flour Milling

Loan Approval Date

11/14/2006

Loan Approval Gross Amount

$332,793

Loan Approval from the SBA

Of the total $332,793 loan amount, the SBA guaranteed $249,595.

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 7 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

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:

Business Credit Evaluation

SBA Banks in Harvey, North Dakota

SBA North Dakota Banks