Florists Commercial Loans

With these commercial loans for florists, the SBA guarantees the lender that the loan will be repaid. This florists loan for $54,000 was given to a North Dakota entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hillsboro, North Dakota was able to borrow $54,000 from The Goose River Bank. The SBA made the loan possible by guaranteeing $45,900 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: FLORISTS
HILLSBORO, ND 58045

SBA Loan Lender

THE GOOSE RIVER BANK
44 W MAIN ST
MAYVILLE, ND 58257

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453110 - Florists

Loan Approval Date

4/1/2004

Loan Approval Gross Amount

$54,000

Loan Approval from the SBA

Of the total $54,000 loan amount, the SBA guaranteed $45,900.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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