West Fargo, North Dakota Business Gets SBA-Guaranteed Funding from Alerus Financial

An SBA loan from Alerus Financial typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a West Fargo, North Dakota business owner got a $425,000 loan.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Alerus Financial, out of Grand Forks, North Dakota. The loan was granted and they received $425,000 to help grow their West Fargo, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: PHOTOFINISHING LABORATORIES
WEST FARGO, ND 58078

SBA Loan Lender

ALERUS FINANCIAL
401 DEMERS AVE
GRAND FORKS, ND 58201

This bank 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

7384 - Photofinishing Laboratories

NAICS Code

812921 - Photofinishing Laboratories

Loan Approval Date

4/7/2005

Loan Approval Gross Amount

$425,000

Loan Approval from the SBA

Of the total $425,000 loan amount, the SBA guaranteed $318,750.

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 60 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Alerus Financial and they will explain how you can get an SBA loan for your company.

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:

Advice on Getting a Small Business Loan

Where to Get an SBA Loan in Grand Forks, North Dakota

Find an SBA Lender in North Dakota