Local Business Gets a North Dakota Bank Loan

Looking to get a North Dakota business loan? This North Dakota entrepreneur got a business loan, provided by a North Dakota bank that works with the SBA to help small business owners.

Getting a small business loan in Mayville, North Dakota was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from The Goose River Bank. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
MAYVILLE, ND 58257

SBA Loan Lender

THE GOOSE RIVER BANK
44 W MAIN ST
MAYVILLE, ND 58257

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.

NAICS Code

722410 - Drinking Places

Loan Approval Date

8/29/2002

Loan Approval Gross Amount

$64,000

Loan Approval from the SBA

Of the total $64,000 loan amount, the SBA guaranteed $54,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Goose River Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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:

Obtaining Funding - How to Decide How Much to Raise

SBA Banks in Mayville, North Dakota

SBA North Dakota Lenders