Crop Harvesting, Primarily by Machine Loans

Looking for loans for crop harvesting, primarily by machine? The SBA may be the answer. This $75,000 crop harvesting, primarily by machine loan was issued by a North Dakota bank.

Getting a small business loan in Scranton, North Dakota was important for this growing firm 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

This bank 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.

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

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

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. This SBA loan request did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Dakota Western 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:

The Friends and Family Network

SBA Approved Banks in Bowman, North Dakota

North Dakota SBA Banks