The Goose River Bank SBA Loan to Crop Preparation Service For Market Company

An SBA loan from The Goose River Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hillsboro, North Dakota business owner got a $300,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hillsboro, North Dakota was able to borrow $300,000 from The Goose River Bank. The SBA made the loan possible by guaranteeing $225,000 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: CROP PREPARATION SERVICE FOR MARKET
HILLSBORO, ND 58045

SBA Loan Lender

THE GOOSE RIVER BANK
515 W CALEDONIA AVE
HILLSBORO, ND 58045

This commercial 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

0723 - Crop Preparation Service for Market

NAICS Code

115114 - Postharvest Crop Activities

Loan Approval Date

2/25/2003

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 5 employees. The loan application did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Goose River Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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 Business Credit Cards

SBA Participating Banks in Hillsboro, North Dakota

North Dakota SBA 7A Banks