Merchants Bank Gives SBA Loan to Chiropractors Company

Would a North Dakota bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this North Dakota bank, which offers SBA loans to North Dakota entrepreneurs.

Getting a small business loan in Rugby, North Dakota was a top priority for this loan applicant back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Merchants Bank. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: CHIROPRACTORS
RUGBY, ND 58368

SBA Loan Lender

MERCHANTS BANK
210 S MAIN AVE
RUGBY, ND 58368

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621310 - Chiropractors

Loan Approval Date

9/29/2005

Loan Approval Gross Amount

$72,000

Loan Approval from the SBA

Of the total $72,000 loan amount, the SBA guaranteed $61,200.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $72,000 loan. Remember, fight for what you want, and it will be yours!

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:

Small Business Loan

Banks in Rugby, North Dakota

SBA North Dakota Lenders