Hatton, North Dakota Business Gets SBA-Guaranteed Funding from The Goose River Bank

The Goose River Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a North Dakota entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hatton, North Dakota was able to borrow $281,400 from The Goose River Bank. The SBA made the loan possible by guaranteeing $211,050 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
HATTON, ND 58240

SBA Loan Lender

THE GOOSE RIVER BANK
44 W MAIN ST
MAYVILLE, ND 58257

This small business 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

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/6/2003

Loan Approval Gross Amount

$281,400

Loan Approval from the SBA

Of the total $281,400 loan amount, the SBA guaranteed $211,050.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

This SBA loan was for $281,400. How would you spend $281,400 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

How to Raise Money

SBA 7A Lenders in Mayville, North Dakota

North Dakota SBA Banks