Local Business Gets a North Dakota Small Business Loan

Would a North Dakota business loan help your company expand? If so, you may want to talk with this Minnesota bank, which offers SBA loans to North Dakota entrepreneurs.

You can learn something about getting a small business loan in Hazen, North Dakota by studying this loan to a local business, made back in 2000. Banks like Wells Fargo Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: RECREATIONAL VEHICLE PARKS AND CAMPSITES
HAZEN, ND 58545

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7033 - Recreational Vehicle Parks and Campsites

NAICS Code

721214 - Recreational and Vacation Camps

Loan Approval Date

10/18/2000

Loan Approval Gross Amount

$97,000

Loan Approval from the SBA

Of the total $97,000 loan amount, the SBA guaranteed $77,600.

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 indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wells Fargo Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wells Fargo Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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

Good Banks for Small Business in Minneapolis, Minnesota

Getting an SBA Loan in Minnesota