Entrepreneur Works With Fargo, North Dakota Bank to Get an SBA Loan

Get to know Fargo, North Dakota banks that specialize in small business loans and know how to work with entrepreneurs. Ramsey National Bank & Trust - Devi is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in West Fargo, North Dakota starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Ramsey National Bank & Trust - Devi. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: REUPHOLSTERY AND FURNITURE REPAIR
WEST FARGO, ND 58078

SBA Loan Lender

RAMSEY NATIONAL BANK & TRUST - DEVI
3232 25TH ST SOUTH
FARGO, ND 58106

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7641 - Reupholstery and Furniture Repair

NAICS Code

811420 - Reupholstery and Furniture Repair

Loan Approval Date

1/20/2004

Loan Approval Gross Amount

$216,400

Loan Approval from the SBA

Of the total $216,400 loan amount, the SBA guaranteed $162,300.

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. This SBA loan request did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This SBA loan was for $216,400. How would you spend $216,400 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Bank Credit Lines

SBA 7A Lenders in Fargo, North Dakota

SBA North Dakota Banks