Minot, North Dakota Bank Gives SBA Loan to Full-Service Restaurants Company
Thinking about meeting with a Minot, North Dakota bank about a business loan? Here's one North Dakota business loan, issued by a Minot bank, that was approved by the SBA.
Applying for an SBA loan with United Commun Bank - No. Dakota worked out well for our friends at one local firm in Minot, North Dakota. They got an SBA loan for $165,600. Nice!
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
MINOT, ND 58701
SBA Loan Lender
UNITED COMMUN BANK - NO. DAKOTA
925 20TH AVE SW
MINOT, ND 58702
This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
5/23/2007
Loan Approval Gross Amount
$165,600
Loan Approval from the SBA
Of the total $165,600 loan amount, the SBA guaranteed $124,200.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 65 employees. The SBA loan application for the borrower indicated that the loan would help retain 65 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $165,600 loan. Remember, anyone can do it... so why not 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:
SBIR Funding
Good Banks for Small Business in Minot, North Dakota
SBA Participating Banks in North Dakota