Mandan, North Dakota Business Gets SBA-Guaranteed Funding from Security 1st Bank - No. Dakota

Security 1st Bank - No. Dakota and the SBA work together to get business loans for growing small businesses. Here's an example of how a North Dakota entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mandan, North Dakota was able to borrow $92,000 from Security 1st Bank - No. Dakota. The SBA made the loan possible by guaranteeing $78,200 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: CHIROPRACTORS
MANDAN, ND 58554

SBA Loan Lender

SECURITY 1ST BANK - NO. DAKOTA
614 W MAIN ST
MANDAN, ND 58554

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621310 - Chiropractors

Loan Approval Date

5/1/2002

Loan Approval Gross Amount

$92,000

Loan Approval from the SBA

Of the total $92,000 loan amount, the SBA guaranteed $78,200.

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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Famous Venture Capitalists

Best Mandan, North Dakota Banks for Small Business

Getting an SBA Loan in North Dakota