Entrepreneur Works With Mohall, North Dakota Bank to Get an SBA Loan

Find Mohall, North Dakota banks that specialize in small business loans and know how to work with entrepreneurs. Cit. St. Bank At Mohall is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Mohall, North Dakota starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Cit. St. Bank At Mohall. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: RETAIL NURSERIES, LAWN AND GARDEN SUPPLY STORES
MOHALL, ND 58761

SBA Loan Lender

CIT. ST. BANK AT MOHALL
102 W MAIN ST
MOHALL, ND 58761

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5261 - Retail Nurseries, Lawn and Garden Supply Stores

NAICS Code

812210 - Funeral Homes and Funeral Services

Loan Approval Date

10/28/2004

Loan Approval Gross Amount

$285,350

Loan Approval from the SBA

Of the total $285,350 loan amount, the SBA guaranteed $214,013.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Cit. St. Bank At Mohall that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Equity Financing

SBA 7A Banks in Mohall, North Dakota

North Dakota SBA 7A Lenders