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November 21, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Bowman, Business Loans > Dakota Western Bank Bowman Business Loans > Lawyers Loan | ||||
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Small Business Banks for Hettinger, North Dakota Small Business Owners
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Lawyers Small Business LoansWith these small business loans for lawyers, the SBA guarantees the lender that the loan will be repaid. This lawyers loan for $85,000 was given to a North Dakota entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hettinger, North Dakota was able to borrow $85,000 from Dakota Western Bank. The SBA made the loan possible by guaranteeing $72,250 of this North Dakota small business loan. SBA Loan Borrower COMPANY TYPE: LAWYERS SBA Loan Lender DAKOTA WESTERN BANK This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541110 - Lawyers Loan Approval Date 5/4/2005 Loan Approval Gross Amount $85,000 Loan Approval from the SBA Of the total $85,000 loan amount, the SBA guaranteed $72,250. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 Dakota Western 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. Related Links:
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