Financing for Photography Studios, Portrait

With these loans for photography studios, portrait, the SBA guarantees the lender that the loan will be repaid. This photography studios, portrait loan for $100,000 was given to a North Dakota entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minot, North Dakota was able to borrow $100,000 from First Western Bank & Trust. The SBA made the loan possible by guaranteeing $85,000 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: PHOTOGRAPHY STUDIOS, PORTRAIT
MINOT, ND 58701

SBA Loan Lender

FIRST WESTERN BANK & TRUST
900 S BROADWAY
MINOT, ND 58701

This lender issued this particular loan for a small business 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.

NAICS Code

541921 - Photography Studios, Portrait

Loan Approval Date

1/11/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from First Western Bank & Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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