Union State Bank Of Fargo Gives Small Business Loan to Highway And Street Construction Company

North DakotaBank loans are available to North Dakota firms through the SBA. In this case, a North Dakota bank provides the loan.

This company, based in West Fargo, North Dakota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Union State Bank Of Fargo. We've got the inside scoop on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: HIGHWAY AND STREET CONSTRUCTION
WEST FARGO, ND 58078

SBA Loan Lender

UNION STATE BANK OF FARGO
4530 17TH AVE SOUTH
FARGO, ND 58103

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1611 - Highway and Street Construction

NAICS Code

237310 - Highway, Street, and Bridge Construction

Loan Approval Date

1/16/2007

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in West Fargo ND, you ought to talk with a local West Fargo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to West Fargo businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Union State Bank Of Fargo and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Direct Public Offerings

SBA 7A Banks in Fargo, North Dakota

North Dakota SBA Bank Lenders