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November 23, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > La Moure, Business Loans > First St. Bank - No. Dakota La Moure Business Loans > Construction Sand And Gravel Mining Loan | ||||
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First St. Bank - No. Dakota
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First St. Bank - No. Dakota SBA Loan to Construction Sand And Gravel Mining CompanyFirst St. Bank - No. Dakota is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one North Dakota entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lamoure, North Dakota was able to borrow $26,000 from First St. Bank - No. Dakota. The SBA made the loan possible by guaranteeing $22,100 of this North Dakota small business loan. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION SAND AND GRAVEL MINING SBA Loan Lender FIRST ST. BANK - NO. DAKOTA 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 212321 - Construction Sand and Gravel Mining Loan Approval Date 11/7/2003 Loan Approval Gross Amount $26,000 Loan Approval from the SBA Of the total $26,000 loan amount, the SBA guaranteed $22,100. 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 only one employee. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First St. Bank - No. Dakota so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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 Bank Loans in La Moure, North Dakota Where to Get an SBA Loan North Dakota
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