Outdoor Power Equipment Stores Commercial Loans

With these commercial loans for outdoor power equipment stores, the SBA guarantees the lender that the loan will be repaid. This outdoor power equipment stores loan for $118,000 was given to a North Dakota entrepreneur in 2000.

This business knew how to go about getting a business bank loan. Based in Minot, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was First Internatl Bank & Tr, based in Minot, North Dakota.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
MINOT, ND 58701

SBA Loan Lender

FIRST INTERNATL BANK & TR
1600 S BROADWAY
MINOT, ND 58701

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

444210 - Outdoor Power Equipment Stores

Loan Approval Date

11/13/2000

Loan Approval Gross Amount

$118,000

Loan Approval from the SBA

Of the total $118,000 loan amount, the SBA guaranteed $88,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 First Internatl Bank & Tr 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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