Raising Money for Scientific and Technical Consulting Services

With these business loans for scientific and technical consulting services, the SBA guarantees the lender that the loan will be repaid. This scientific and technical consulting services loan for $55,000 was given to a North Dakota entrepreneur in 2004.

This small business knew how to go about getting a business bank loan. Based in Minto, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Choice Financial Group, based in West Fargo, North Dakota.

SBA Loan Borrower

COMPANY TYPE: SCIENTIFIC AND TECHNICAL CONSULTING SERVICES
MINTO, ND 58261

SBA Loan Lender

CHOICE FINANCIAL GROUP
210 SHEYENNE ST
WEST FARGO, ND 58078

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541690 - Scientific and Technical Consulting Services

Loan Approval Date

12/28/2004

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $46,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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