Grafton, North Dakota Bank Gives SBA Loan to Crop Preparation Service For Market Company

Get to know Grafton, North Dakota banks that specialize in SBA loans and know how to work with entrepreneurs. Choice Financial Group is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Langdon, North Dakota starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Choice Financial Group. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: CROP PREPARATION SERVICE FOR MARKET
LANGDON, ND 58249

SBA Loan Lender

CHOICE FINANCIAL GROUP
645 HILL AVE
GRAFTON, ND 58237

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to American small businesses.

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

12/19/2002

Loan Approval Gross Amount

$346,000

Loan Approval from the SBA

Of the total $346,000 loan amount, the SBA guaranteed $259,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. The SBA loan documents did not indicate that the business 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 emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Choice Financial Group 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.

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SBA 7A Lenders in Grafton, North Dakota

North Dakota SBA 7A Lenders