Grand Forks, North Dakota Bank Lends Money to Car Washes Company in Portland, North Dakota

Get to know Grand Forks, North Dakota banks that specialize in business loans and know how to work with entrepreneurs. Alerus Financial is one such bank, as evidenced by this SBA loan to a growing company.

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

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
PORTLAND, ND 58274

SBA Loan Lender

ALERUS FINANCIAL
401 DEMERS AVE
GRAND FORKS, ND 58201

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

10/26/2007

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. 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 documents indicated that the loan would help generate 1 new job and retain 1 existing job.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Alerus Financial and they will explain how you can get an SBA loan for your company.

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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