Marv Haugen Enterprises
Marv Haugen Enterprises, located in Casselton, ND, is in the cutting tool and machine tool accessory manufacturing industry (NAICS 333515). The company financed real estate or equipment through an SBA 504 loan of $1,013,000, approved on January 8, 2024, with BankNorth as the lender and Dakota Business Lending as the certified development company.
SBA 504 loan, approved Jan 8, 2024
$1,013,000 SBA portionCDC: Dakota Business Lending25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,013,000
- Bank portion
- $1,236,000
- Estimated project size
- $2,498,889 (estimated)
- Estimated owner equity
- $249,889 (estimated, about 10% of the project)
- Bank lender
- BankNorth, Arthur, ND
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- January 8, 2049 (estimated, approval date plus term)
- First disbursement
- Jun 11, 2025
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 333515, Cutting Tool and Machine Tool Accessory Manufacturing
- Project location
- Cass County, ND
- SBA district office
- North Dakota District Office
- Congressional district
- ND-0
- Collateral
- Yes
Estimated share of project by source
Bank 49% SBA (CDC) 41% Owner 10%
- Average expansion loan in Cutting Tool and Machine Tool Accessory Manufacturing: $1,540,667.
- Average expansion loan in North Dakota: $1,912,640.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
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