Minot, North Dakota Business Gets SBA-Guaranteed Funding from Bremer Bank

An SBA loan from Bremer Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Minot, North Dakota business owner got a $49,000 loan.

This business knew how to go about getting a business bank loan. Based in Minot, North Dakota, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Bremer Bank, based in Minot, North Dakota.

SBA Loan Borrower

COMPANY TYPE: WATER, SEWER, AND PIPELINE CONSTRUCTION
MINOT, ND 58701

SBA Loan Lender

BREMER BANK
20 FIRST ST SOUTHWEST
MINOT, ND 58701

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

234910 - Water, Sewer, and Pipeline Construction

Loan Approval Date

3/7/2002

Loan Approval Gross Amount

$49,000

Loan Approval from the SBA

Of the total $49,000 loan amount, the SBA guaranteed $41,650.

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 5 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $49,000 loan. Remember, where there is a will, there is a way!

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

Where to Get an SBA Loan North Dakota