Raising Money for Warehousing and Storage

Looking for business loans for warehousing and storage? An SBA loan may be just what you've been looking for. This $545,000 warehousing and storage loan was issued by a North Dakota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Minot, North Dakota was able to borrow $545,000 from Bremer Bank. The SBA made the loan possible by guaranteeing $283,400 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIAL WAREHOUSING AND STORAGE
MINOT, ND 58701

SBA Loan Lender

BREMER BANK
20 FIRST ST SOUTHWEST
MINOT, ND 58701

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4226 - Special Warehousing and Storage

NAICS Code

493190 - Warehousing and Storage

Loan Approval Date

7/19/2000

Loan Approval Gross Amount

$545,000

Loan Approval from the SBA

Of the total $545,000 loan amount, the SBA guaranteed $283,400.

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 2 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Minot ND, you ought to talk with a local Minot SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Minot businesses.

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.

Related Links:

SBIR Funding

SBA Approved Banks in Minot, North Dakota

North Dakota SBA Banks