Bank Loans for Home and Garden Equipment Repair and Maintenance

With these bank loans for home and garden equipment repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This home and garden equipment repair and maintenance loan for $57,000 was given to a North Dakota entrepreneur in 2002.

Getting a small business loan in Park River, North Dakota was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Citizens State Bank Of Lankin, operating out of Lankin, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME AND GARDEN EQUIPMENT REPAIR AND MAINTENANCE
PARK RIVER, ND 58270

SBA Loan Lender

CITIZENS STATE BANK OF LANKIN
MAIN ST
LANKIN, ND 58250

This lender issued this particular 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

811411 - Home and Garden Equipment Repair and Maintenance

Loan Approval Date

4/8/2002

Loan Approval Gross Amount

$57,000

Loan Approval from the SBA

Of the total $57,000 loan amount, the SBA guaranteed $48,450.

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 2 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a small business or need money for an existing business, an SBA loan can be a great source of funding.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens State Bank Of Lankin had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens State Bank Of Lankin made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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