Raising Money for Commercial and Service Industry Machinery Manufacturing

With these business loans for commercial and service industry machinery manufacturing, the SBA guarantees the lender that the loan will be repaid. This commercial and service industry machinery manufacturing loan for $133,000 was given to a North Dakota entrepreneur in 2007.

This business knew how to go about getting a business bank loan. Based in Williston, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was American Bank Center, based in Minot, North Dakota.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND SERVICE INDUSTRY MACHINERY MANUFACTURING
WILLISTON, ND 58801

SBA Loan Lender

AMERICAN BANK CENTER
2201 15TH ST SW
MINOT, ND 58701

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333319 - Commercial and Service Industry Machinery Manufacturing

Loan Approval Date

4/11/2007

Loan Approval Gross Amount

$133,000

Loan Approval from the SBA

Of the total $133,000 loan amount, the SBA guaranteed $113,050.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

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SBA Banks in Minot, North Dakota

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