Scandia Amer Bank & Tr SBA Loan to Tires And Tubes Company

Looking to get a North Dakota SBA loan? Here's one North Dakota business loan that was approved by the SBA.

This up and coming company knew how to go about getting a business bank loan. Based in Stanley, North Dakota, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Scandia Amer Bank & Tr, based in Stanley, North Dakota.

SBA Loan Borrower

COMPANY TYPE: TIRES AND TUBES
STANLEY, ND 58784

SBA Loan Lender

SCANDIA AMER BANK & TR
15 S MAIN
STANLEY, ND 58784

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.

SIC Code

5014 - Tires and Tubes

Loan Approval Date

3/24/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

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 4 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

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Find an SBA Lender in Stanley, North Dakota

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