Entrepreneur Works With Turtle Lake, North Dakota Bank to Get an SBA Loan

Get to know Turtle Lake, North Dakota banks that specialize in small business loans and know how to work with entrepreneurs. Bank Of Turtle Lake is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Turtle Lake, North Dakota starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Bank Of Turtle Lake. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL WIRING SUPPLIES
TURTLE LAKE, ND 58575

SBA Loan Lender

BANK OF TURTLE LAKE
205 MAIN ST
TURTLE LAKE, ND 58575

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5063 - Electrical Wiring Supplies

NAICS Code

421610 - Electrical Apparatus, Equipment, Wiring Supplies and Construction Materials

Loan Approval Date

6/5/2001

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 9 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Turtle Lake or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Determining Proper Capital Structure for a Business

SBA Participating Banks in Turtle Lake, North Dakota

Getting an SBA Loan in North Dakota