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November 23, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Underwood, Business Loans > North Country Bank Underwood Business Loans > Soil Preparation, Planting, And Cultivating Loan | ||||
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Business Loans for Underwood Businesses
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Borrowing Money for Soil Preparation, Planting, and CultivatingLooking for loans for soil preparation, planting, and cultivating? Try the SBA. This $122,000 soil preparation, planting, and cultivating loan was issued by a North Dakota bank. This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with North Country Bank, out of Underwood, North Dakota. The loan was granted and they received $122,000 to help grow their Underwood, North Dakota business. SBA Loan Borrower COMPANY TYPE: SOIL PREPARATION, PLANTING, AND CULTIVATING SBA Loan Lender NORTH COUNTRY BANK This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 115112 - Soil Preparation, Planting, and Cultivating Loan Approval Date 10/4/2002 Loan Approval Gross Amount $122,000 Loan Approval from the SBA Of the total $122,000 loan amount, the SBA guaranteed $103,700. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Banks for Small Business in Underwood, North Dakota Browse All Business Loan Sources for North Dakota
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