SBA Loan from Bremer Bank Helps Direct Selling Establishments Company

Bremer Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one North Dakota entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minot, North Dakota was able to borrow $97,660 from Bremer Bank. The SBA made the loan possible by guaranteeing $83,011 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
MINOT, ND 58703

SBA Loan Lender

BREMER BANK
20 FIRST ST SOUTHWEST
MINOT, ND 58701

This lender issued this debt financing under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5963 - Direct Selling Establishments

NAICS Code

722330 - Mobile Food Services

Loan Approval Date

10/24/2006

Loan Approval Gross Amount

$97,660

Loan Approval from the SBA

Of the total $97,660 loan amount, the SBA guaranteed $83,011.

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 4 employees. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Microlending as a Small Business Funding Source

Banks in Minot, North Dakota

Getting an SBA Loan in North Dakota