Raising Money for Motor Vehicle Body Manufacturing

Looking for business loans for motor vehicle body manufacturing? Try the SBA. This $200,000 motor vehicle body manufacturing loan was issued by a North Dakota bank.

This small business knew how to go about getting a business bank loan. Based in Walhalla, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Choice Financial Group, based in Walhalla, North Dakota.

SBA Loan Borrower

COMPANY TYPE: TRUCK AND BUS BODIES
WALHALLA, ND 58282

SBA Loan Lender

CHOICE FINANCIAL GROUP
407 12TH ST
WALHALLA, ND 58282

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3713 - Truck and Bus Bodies

NAICS Code

336211 - Motor Vehicle Body Manufacturing

Loan Approval Date

11/1/2000

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. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Choice Financial Group so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Strategic Investors

SBA 7A Lenders in Walhalla, North Dakota

Getting a Business Loan in North Dakota