Bremer Bank Gives Small Business Loan to Retail Bakeries Company

Would a North Dakota small business loan help your small business to grow and prosper? If so, you may want to talk with this North Dakota bank, which offers SBA loans to North Dakota entrepreneurs.

Getting a small business loan in Minot, North Dakota was a top priority for this small company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Bremer Bank. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
MINOT, ND 58701

SBA Loan Lender

BREMER BANK
20 FIRST ST SOUTHWEST
MINOT, ND 58701

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.

SIC Code

5461 - Retail Bakeries

NAICS Code

445291 - Baked Goods Stores

Loan Approval Date

12/17/2004

Loan Approval Gross Amount

$33,400

Loan Approval from the SBA

Of the total $33,400 loan amount, the SBA guaranteed $28,390.

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

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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