Local Business Gets a North Dakota Small Business Loan

North DakotaBusiness loans are available to North Dakota business owners through the SBA. In this case, a North Dakota bank provides the loan.

Getting a small business loan in West Fargo, North Dakota was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Ramsey National Bank & Trust - Devi. Here are the details on this North Dakota small business loan.

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

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

6/22/2005

Loan Approval Gross Amount

$69,810

Loan Approval from the SBA

Of the total $69,810 loan amount, the SBA guaranteed $34,905.

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 16 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 15 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Ramsey National Bank & Trust - Devi 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:

Microlending as a Small Business Funding Source

Where to Get an SBA Loan in Devils Lake, North Dakota

Find an SBA Lender in North Dakota