Business Loan from Security 1st Bank - No. Dakota Given to Eating Places Company

An SBA loan from Security 1st Bank - No. Dakota typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mandan, North Dakota business owner got a $33,200 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mandan, North Dakota was able to borrow $33,200 from Security 1st Bank - No. Dakota. The SBA made the loan possible by guaranteeing $24,900 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MANDAN, ND 58554

SBA Loan Lender

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

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722410 - Drinking Places

Loan Approval Date

7/29/2005

Loan Approval Gross Amount

$33,200

Loan Approval from the SBA

Of the total $33,200 loan amount, the SBA guaranteed $24,900.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the business planned to use the funding 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Security 1st Bank - No. Dakota and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

The Friends and Family Network

Good Banks for Small Business in Mandan, North Dakota

North Dakota SBA 7A Banks