Borrowing Money for Used Household and Office Goods Moving

With these small business loans for used household and office goods moving, the SBA guarantees the lender that the loan will be repaid. This used household and office goods moving loan for $171,000 was given to a North Dakota entrepreneur in 2001.

Getting a small business loan in Minot, North Dakota was important for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from First Internatl Bank & Tr, operating out of Minot, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: TRUCKING
MINOT, ND 58701

SBA Loan Lender

FIRST INTERNATL BANK & TR
1705 2ND AVE SW
MINOT, ND 58701

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4213 - Trucking

NAICS Code

484210 - Used Household and Office Goods Moving

Loan Approval Date

6/20/2001

Loan Approval Gross Amount

$171,000

Loan Approval from the SBA

Of the total $171,000 loan amount, the SBA guaranteed $128,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 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.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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:

Business Line of Credit

Where to Get an SBA Loan in Minot, North Dakota

Getting an SBA Loan in North Dakota