SBA Loan from Bank Forward Helps Video Tape And Disc Rental Company

An SBA loan from Bank Forward typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Valley City, North Dakota business owner got a $95,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Valley City, North Dakota was able to borrow $95,000 from Bank Forward. The SBA made the loan possible by guaranteeing $80,750 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE AND DISC RENTAL
VALLEY CITY, ND 58072

SBA Loan Lender

BANK FORWARD
430 W MAIN ST
VALLEY CITY, ND 58072

This lender issued this particular 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

532230 - Video Tape and Disc Rental

Loan Approval Date

3/14/2002

Loan Approval Gross Amount

$95,000

Loan Approval from the SBA

Of the total $95,000 loan amount, the SBA guaranteed $80,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Forward are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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Best Valley City, North Dakota Banks for Small Business

Getting a Business Loan in North Dakota