General Merchandise Stores Business Loans
Looking for business loans for general merchandise stores? An SBA loan may be just what you've been looking for. This $42,000 general merchandise stores loan was issued by a North Dakota bank.
Getting a small business loan in Minot, North Dakota was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from United Commun Bank - No. Dakota, operating out of Minot, North Dakota. Here are the details on this North Dakota small business loan.
SBA Loan Borrower
COMPANY TYPE: GENERAL MERCHANDISE STORES
MINOT, ND 58701
SBA Loan Lender
UNITED COMMUN BANK - NO. DAKOTA
925 20TH AVE SW
MINOT, ND 58702
This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
452990 - General Merchandise Stores
Loan Approval Date
9/11/2002
Loan Approval Gross Amount
$42,000
Loan Approval from the SBA
Of the total $42,000 loan amount, the SBA guaranteed $35,700.
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 12 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
We've showcased information on this loan to let you know that businesses like yours 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.
Related Links:
Alternative Financing
Best Minot, North Dakota Banks for Small Business
North Dakota SBA Banks