Borrowing Money for Nursery and Tree Production

With these small business loans for nursery and tree production, the SBA guarantees the lender that the loan will be repaid. This nursery and tree production loan for $90,000 was given to a North Dakota entrepreneur in 2004.

This small firm knew how to go about getting a business bank loan. Based in Mayville, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was The First And Farmers Bank, based in Portland, North Dakota.

SBA Loan Borrower

COMPANY TYPE: NURSERY AND TREE PRODUCTION
MAYVILLE, ND 58257

SBA Loan Lender

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

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

111421 - Nursery and Tree Production

Loan Approval Date

4/15/2004

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

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 only one employee. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like The First And Farmers Bank and they will explain how you can get an SBA loan for your company.

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:

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Small Business Banks in Portland, North Dakota

SBA Lenders in North Dakota