Langdon, North Dakota Bank Gives SBA Loan to Trucking Company

Get to know Langdon, North Dakota banks that specialize in business loans and know how to work with entrepreneurs. Farmers & Merchants St. Bk 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 small company received funding from Farmers & Merchants St. Bk. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: TRUCKING
LANGDON, ND 58249

SBA Loan Lender

FARMERS & MERCHANTS ST. BK
816 THIRD ST
LANGDON, ND 58249

This business 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

4213 - Trucking

NAICS Code

484230 - Specialized Long-Distance Freight Trucking

Loan Approval Date

10/7/2004

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 37 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Farmers & Merchants St. Bk 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:

Equity Financing

Small Bank Loans in Langdon, North Dakota

North Dakota SBA 7A Banks