Williston, North Dakota Business Gets SBA-Guaranteed Funding from First Internatl Bank & Tr

An SBA loan from First Internatl Bank & Tr typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Williston, North Dakota business owner got a $29,700 loan.

Getting a small business loan in Williston, North Dakota was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First Internatl Bank & Tr, operating out of Watford City, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: TECHNICAL AND TRADE SCHOOLS
WILLISTON, ND 58801

SBA Loan Lender

FIRST INTERNATL BANK & TR
100 MAIN NORTH
WATFORD CITY, ND 58854

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611519 - Technical and Trade Schools

Loan Approval Date

8/26/2004

Loan Approval Gross Amount

$29,700

Loan Approval from the SBA

Of the total $29,700 loan amount, the SBA guaranteed $25,245.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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