Raising Money for Grain and Field Bean Merchant Wholesalers

Looking for business loans for grain and field bean merchant wholesalers? Try the SBA. This $1,500,000 grain and field bean merchant wholesalers loan was issued by a North Dakota bank.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with The First And Farmers Bank, out of Portland, North Dakota. The loan was granted and they received $1,500,000 to help grow their Mayville, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: GRAIN AND FIELD BEANS
MAYVILLE, ND 58257

SBA Loan Lender

THE FIRST AND FARMERS BANK
509 PARKE AVE
PORTLAND, ND 58274

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5153 - Grain and Field Beans

NAICS Code

424510 - Grain and Field Bean Merchant Wholesalers

Loan Approval Date

9/23/2005

Loan Approval Gross Amount

$1,500,000

Loan Approval from the SBA

Of the total $1,500,000 loan amount, the SBA guaranteed $1,125,000.

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 24 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 The First And Farmers Bank 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.

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SBA Banks in Portland, North Dakota

SBA Lenders in North Dakota