Getting an SBA Loan for Florists

Looking for SBA loans for florists? An SBA loan may be just what you've been looking for. This $33,400 florists loan was issued by a North Dakota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Leeds, North Dakota was able to borrow $33,400 from First State Bank Of Cando. The SBA made the loan possible by guaranteeing $28,390 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: FLORISTS
LEEDS, ND 58346

SBA Loan Lender

FIRST STATE BANK OF CANDO
415 MAIN ST
CANDO, ND 58324

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453110 - Florists

Loan Approval Date

8/14/2003

Loan Approval Gross Amount

$33,400

Loan Approval from the SBA

Of the total $33,400 loan amount, the SBA guaranteed $28,390.

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 application for the borrower did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First State Bank Of Cando had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First State Bank Of Cando made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Getting a Small Business Loan

Good Banks for Small Business in Cando, North Dakota

Find an SBA Lender in North Dakota