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December 22, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Fargo, Business Loans > State Bank & Trust Fargo Business Loans > Structural Wood Members Loan | ||||
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Getting a Business Loan in Moorhead, Minnesota
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State Bank & Trust Gives Small Business Loan to Structural Wood Members CompanyWould a Minnesota small business loan help your small business to grow and prosper? If so, you may want to talk with this North Dakota bank, which offers SBA loans to Minnesota entrepreneurs. Getting a small business loan in Moorhead, Minnesota was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from State Bank & Trust. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: STRUCTURAL WOOD MEMBERS SBA Loan Lender STATE BANK & TRUST The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2439 - Structural Wood Members NAICS Code 321213 - Engineered Wood Member Manufacturing Loan Approval Date 9/5/2003 Loan Approval Gross Amount $1,900,000 Loan Approval from the SBA Of the total $1,900,000 loan amount, the SBA guaranteed $988,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 63 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 $1,900,000 loan. Remember, anyone can do it... so why not you? 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: Accountant's Role in Securing Financing SBA Banks in Fargo, North Dakota
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