Raising Money for Iron and Steel Pipe and Tube Manufacturing from Purchased Steel
Looking for business loans for iron and steel pipe and tube manufacturing from purchased steel? The SBA may be the answer. This $150,000 iron and steel pipe and tube manufacturing from purchased steel loan was issued by a Montana bank.
This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with First National Bank - Montana Inc., out of Libby, Montana. The loan was granted and they received $150,000 to help grow their Anaconda, Montana business.
SBA Loan Borrower
COMPANY TYPE: IRON AND STEEL PIPE AND TUBE MANUFACTURING FROM PURCHASED STEEL
ANACONDA, MT 59711
SBA Loan Lender
FIRST NATIONAL BANK - MONTANA INC.
504 MINERAL AVE
LIBBY, MT 59923
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
331210 - Iron and Steel Pipe and Tube Manufacturing from Purchased Steel
Loan Approval Date
9/28/2005
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 12 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
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:
Small Business Credit Cards
SBA 7A Lenders in Libby, Montana
Getting an SBA Loan in Montana