Wishek, North Dakota Lender Lends Money to Motor Vehicle Supplies And New Parts Company

Get to know Wishek, North Dakota banks that specialize in small business loans and know how to work with entrepreneurs. Security State Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Wishek, 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 Security State Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS
WISHEK, ND 58495

SBA Loan Lender

SECURITY STATE BANK
102 CENTENNIAL ST NORTH
WISHEK, ND 58495

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5013 - Motor Vehicle Supplies and New Parts

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

1/17/2007

Loan Approval Gross Amount

$306,000

Loan Approval from the SBA

Of the total $306,000 loan amount, the SBA guaranteed $229,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 4 employees. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $306,000 loan. Remember, if it to be, it is up to me!

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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