Business Loan from Ramsey National Bank & Trust - Devi Given to Sporting And Recreational Goods And Supplies Merchant Wholesalers Company

An SBA loan from Ramsey National Bank & Trust - Devi typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Horace, North Dakota business owner got a $50,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Horace, North Dakota was able to borrow $50,000 from Ramsey National Bank & Trust - Devi. The SBA made the loan possible by guaranteeing $42,500 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES MERCHANT WHOLESALERS
HORACE, ND 58047

SBA Loan Lender

RAMSEY NATIONAL BANK & TRUST - DEVI
300 4TH ST NE
DEVILS LAKE, ND 58301

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

423910 - Sporting and Recreational Goods and Supplies Merchant Wholesalers

Loan Approval Date

1/24/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 documents did not indicate that the small business planned to use the funding 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.

We can help you find the best banks for small businesses in Horace or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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