Getting an SBA Loan for Manufacturing and Industrial Building Construction

Looking for business loans for manufacturing and industrial building construction? An SBA loan may be just what you've been looking for. This $160,000 manufacturing and industrial building construction loan was issued by a North Dakota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hatton, North Dakota was able to borrow $160,000 from The First And Farmers Bank. The SBA made the loan possible by guaranteeing $120,000 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
HATTON, ND 58240

SBA Loan Lender

THE FIRST AND FARMERS BANK
509 PARKE AVE
PORTLAND, ND 58274

This bank 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

5411 - Grocery Stores

NAICS Code

233310 - Manufacturing and Industrial Building Construction

Loan Approval Date

4/2/2001

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $120,000.

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 8 employees. This SBA loan request did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Hatton ND, you ought to talk with a local Hatton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hatton businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The First And Farmers Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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North Dakota SBA 7A Lenders