Alerus Financial Corporation SBA Loan to Gasoline Service Stations Company

Searching for a North Dakota business loan? Here's one North Dakota business loan that was approved by the SBA.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Alerus Financial Corporation, out of Grand Forks, North Dakota. The loan was granted and they received $105,600 to help grow their Northwood, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
NORTHWOOD, ND 58267

SBA Loan Lender

ALERUS FINANCIAL CORPORATION
401 DEMERS AVE
GRAND FORKS, ND 58206

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

Loan Approval Date

1/19/2000

Loan Approval Gross Amount

$105,600

Loan Approval from the SBA

Of the total $105,600 loan amount, the SBA guaranteed $79,200.

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 6 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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