Borrowing Money for Durable Goods Wholesalers

Looking for bank loans for durable goods wholesalers? Talk to a banker who works with the SBA. This $31,300 durable goods wholesalers loan was issued by a North Dakota bank.

This small firm knew how to go about getting a business bank loan. Based in Mandan, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Starion Financial, based in Mandan, North Dakota.

SBA Loan Borrower

COMPANY TYPE: DURABLE GOODS
MANDAN, ND 58554

SBA Loan Lender

STARION FINANCIAL
109 1ST ST NW
MANDAN, ND 58554

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5099 - Durable Goods

NAICS Code

421990 - Durable Goods Wholesalers

Loan Approval Date

1/14/2000

Loan Approval Gross Amount

$31,300

Loan Approval from the SBA

Of the total $31,300 loan amount, the SBA guaranteed $25,040.

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 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Starion Financial had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Starion Financial 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:

Small Business Loan

Best Banks in Mandan, North Dakota

Getting an SBA Loan in North Dakota