Security State Bank SBA Loan to Grocery Stores Company

Security State Bank has a track record as a leading provider of SBA loans. Find out how this North Dakota entrepreneur received an SBA loan from them.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Security State Bank, out of Linton, North Dakota. The loan was granted and they received $89,400 to help grow their Linton, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: GROCERY STORES
LINTON, ND 58552

SBA Loan Lender

SECURITY STATE BANK
203 N BROADWAY
LINTON, ND 58552

This commercial 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

5411 - Grocery Stores

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

8/31/2005

Loan Approval Gross Amount

$89,400

Loan Approval from the SBA

Of the total $89,400 loan amount, the SBA guaranteed $71,520.

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 13 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Security State Bank 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:

Obtaining Funding - Friends and Family

SBA Banks in Linton, North Dakota

North Dakota SBA Bank Lenders