1st Bank SBA Loan to Business Services Company

Looking to get a North Dakota SBA loan? Here's one North Dakota business loan that was approved by the SBA.

This growing firm needed an SBA business loan in Minot, North Dakota back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from 1st Bank, operating out of Sidney, Montana. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
MINOT, ND 58701

SBA Loan Lender

1ST BANK
120 2ND ST NW
SIDNEY, MT 59270

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

Loan Approval Date

6/20/2000

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $36,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Minot or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Accountant's Role in Securing Financing

Best Sidney, Montana Banks for Small Business

Montana SBA Banks