Borrowing Money for Masonry and Stone Contractors

Looking for small business loans for masonry and stone contractors? Try the SBA. This $50,000 masonry and stone contractors loan was issued by a North Dakota bank.

This small firm 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 2001. The lending bank was United Commun Bank - No. Dakota, based in Minot, North Dakota.

SBA Loan Borrower

COMPANY TYPE: MASONRY AND STONE CONTRACTORS
MINOT, ND 58703

SBA Loan Lender

UNITED COMMUN BANK - NO. DAKOTA
925 20TH AVE SW
MINOT, ND 58702

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235410 - Masonry and Stone Contractors

Loan Approval Date

5/16/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 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.

Getting an SBA Loan For Your Business

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

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Business Cash Advances

Banks in Minot, North Dakota

North Dakota SBA 7A Lenders