Steele, North Dakota Business Gets SBA-Guaranteed Funding from Wilshire State Bank

Wilshire State 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.

This small firm knew how to go about getting a business bank loan. Based in Steele, North Dakota, they applied for and received an SBA-guaranteed loan in 2008. The lending bank was Wilshire State Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
Steele, ND 58482

SBA Loan Lender

WILSHIRE STATE BANK
3200 WILSHIRE BLVD
LOS ANGELES, CA 90010

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

1/7/2008

Loan Approval Gross Amount

$435,500

Loan Approval from the SBA

Of the total $435,500 loan amount, the SBA guaranteed $326,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. This SBA loan request indicated that the funding would help generate 20 new jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Wilshire State Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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