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November 22, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Wahpeton, Business Loans > Bank Of The West Wahpeton Business Loans > Farm And Garden Machinery And Equipment Loan | ||||
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Best Banks in North Dakota
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Borrowing Money for General Automotive RepairWith these loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $430,000 was given to a North Dakota entrepreneur in 2004. This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Bank Of The West, out of Wahpeton, North Dakota. The loan was granted and they received $430,000 to help grow their Wahpeton, North Dakota business. SBA Loan Borrower COMPANY TYPE: FARM AND GARDEN MACHINERY AND EQUIPMENT SBA Loan Lender BANK OF THE WEST SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5083 - Farm and Garden Machinery and Equipment NAICS Code 811111 - General Automotive Repair Loan Approval Date 7/22/2004 Loan Approval Gross Amount $430,000 Loan Approval from the SBA Of the total $430,000 loan amount, the SBA guaranteed $322,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 13 employees. The loan application did not indicate that the business promised to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of The West that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: SBA Approved Banks in Wahpeton, North Dakota
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