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November 14, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Fargo, Business Loans > Bremer Bank Fargo Business Loans > Beauty Salons Loan | ||||
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Bremer Bank
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SBA Loan from Bremer Bank Helps Beauty Salons CompanyBremer Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one North Dakota entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Rugby, North Dakota, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Bremer Bank, based in Fargo, North Dakota. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender BREMER BANK 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 812112 - Beauty Salons Loan Approval Date 9/26/2005 Loan Approval Gross Amount $26,600 Loan Approval from the SBA Of the total $26,600 loan amount, the SBA guaranteed $13,300. 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 6 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 5 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bremer Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Obtaining Funding - Friends and Family
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