How to Get a Loan for Support Activities for Animal Production

Looking for SBA loans for support activities for animal production? An SBA loan may be just what you've been looking for. This $65,000 support activities for animal production loan was issued by a North Dakota bank.

This small business knew how to go about getting a business bank loan. Based in Velva, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Bremer Bank, based in Minot, North Dakota.

SBA Loan Borrower

COMPANY TYPE: SUPPORT ACTIVITIES FOR ANIMAL PRODUCTION
VELVA, ND 58790

SBA Loan Lender

BREMER BANK
20 FIRST ST SOUTHWEST
MINOT, ND 58701

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

115210 - Support Activities for Animal Production

Loan Approval Date

1/29/2003

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bremer Bank 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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Small Business Banks in Minot, North Dakota

SBA North Dakota Lenders