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

Thinking about meeting with a Devils Lake, North Dakota bank about a small business loan? Here's one North Dakota business loan, issued by a Devils Lake bank, that was approved by the SBA.

Applying for an SBA loan with Ramsey National Bank & Trust - Devi worked out well for our friends at one local firm in West Fargo, North Dakota. The business was able to get an SBA loan for $100,000. Great job!

SBA Loan Borrower

COMPANY TYPE: WOOD CONTAINER AND PALLET MANUFACTURING
WEST FARGO, ND 58078

SBA Loan Lender

RAMSEY NATIONAL BANK & TRUST - DEVI
300 4TH ST NE
DEVILS LAKE, ND 58301

The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

321920 - Wood Container and Pallet Manufacturing

Loan Approval Date

6/29/2004

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 21 employees. The SBA loan documents indicated that the loan would help retain 21 existing jobs.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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