Raising Money for Direct Selling Establishments

Looking for business loans for direct selling establishments? The SBA may be the answer. This $65,000 direct selling establishments loan was issued by a North Dakota bank.

This business knew how to go about getting a business bank loan. Based in Walker, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was Bank Forward, based in Hannaford, North Dakota.

SBA Loan Borrower

COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
WALKER, MN 56484

SBA Loan Lender

BANK FORWARD
390 WHEAT ST
HANNAFORD, ND 58448

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

1/8/2008

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $32,500.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start business in Walker MN, you ought to talk with a local Walker SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Walker businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Forward 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.

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