Company Gets a North Dakota Bank Loan

Would a North Dakota SBA loan help your business get to the next level? If so, you may want to talk with this Minnesota bank, which offers SBA loans to North Dakota entrepreneurs.

Getting a small business loan in Minot, North Dakota was a top priority for this particular business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: BUILDING MATERIAL DEALERS
MINOT, ND 58701

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

6/22/2001

Loan Approval Gross Amount

$464,000

Loan Approval from the SBA

Of the total $464,000 loan amount, the SBA guaranteed $348,000.

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 15 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 17 existing jobs.

Getting an SBA Loan For Your Business

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

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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