Scranton, North Dakota Business Gets SBA-Guaranteed Funding from Dakota Western Bank

Dakota Western Bank has a track record as a leading provider of SBA loans. Find out how this North Dakota entrepreneur received an SBA loan from them.

Getting a small business loan in Scranton, North Dakota was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Dakota Western Bank, operating out of Bowman, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: CROP HARVESTING, PRIMARILY BY MACHINE
SCRANTON, ND 58653

SBA Loan Lender

DAKOTA WESTERN BANK
202 S MAIN ST
BOWMAN, ND 58623

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide debt financing to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0722 - Crop Harvesting, Primarily by Machine

NAICS Code

115113 - Crop Harvesting, Primarily by Machine

Loan Approval Date

5/21/2002

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

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 6 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Dakota Western Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Microlending as a Small Business Funding Source

SBA 7A Banks for Bowman, North Dakota Loans

Getting an SBA Loan in North Dakota