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December 22, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Hatton, Business Loans > Farmers & Merchants National Hatton Business Loans > Heavy Duty Truck Manufacturing Loan | ||||
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Farmers & Merchants National
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Hatton, North Dakota Business Gets SBA-Guaranteed Funding from Farmers & Merchants NationalFarmers & Merchants National has a track record as a leading provider of SBA loans. Find out how this North Dakota entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hatton, North Dakota was able to borrow $29,500 from Farmers & Merchants National. The SBA made the loan possible by guaranteeing $25,075 of this North Dakota small business loan. SBA Loan Borrower COMPANY TYPE: HEAVY DUTY TRUCK MANUFACTURING SBA Loan Lender FARMERS & MERCHANTS NATIONAL This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 336120 - Heavy Duty Truck Manufacturing Loan Approval Date 11/3/2003 Loan Approval Gross Amount $29,500 Loan Approval from the SBA Of the total $29,500 loan amount, the SBA guaranteed $25,075. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Small Bank Loans in Hatton, North Dakota Find an SBA Lender in North Dakota
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