Get an SBA Loan for Specialty Food Stores

With these loans for specialty food stores, the SBA guarantees the lender that the loan will be repaid. This specialty food stores loan for $150,000 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 $150,000 from First Internatl Bank & Tr. The SBA made the loan possible by guaranteeing $127,500 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
MINOT, ND 58701

SBA Loan Lender

FIRST INTERNATL BANK & TR
100 MAIN NORTH
WATFORD CITY, ND 58854

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

4/20/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 20 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start 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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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