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

Get SBA loans from a Devils Lake, North Dakota bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Citizens Community Cu is a Devils Lake, North Dakota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a North Dakota company.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
ROLLA, ND 58367

SBA Loan Lender

CITIZENS COMMUNITY CU
1117 HWY 2 SE
DEVILS LAKE, ND 58301

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/14/2005

Loan Approval Gross Amount

$249,800

Loan Approval from the SBA

Of the total $249,800 loan amount, the SBA guaranteed $124,900.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Citizens Community Cu and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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