Minot, ND Entrepreneur Gets SBA Loan to Buy Overhead Door Co. Franchise

Borrowing money to invest in an Overhead Door Co. franchise? First Internatl Bank & Tr has a history of making these loans and they are guaranteed by the SBA.

If you live near Minot, North Dakota and are interested in buying an Overhead Door Co. franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by First Internatl Bank & Tr. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

OVERHEAD DOOR COMPANY OF MINOT
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

5211 - Lumber and Other Building Materials Dealer

Loan Approval Date

7/25/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Overhead Door Co. franchise. At the time of the loan, the company had 7 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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SBA Approved Banks in Minot, North Dakota

SBA North Dakota Banks