Local Business Gets a Montana Bank Loan
Business loans in Montana are hard to find these days. We take a look at one Montana business loan, provided by a Montana bank, that was approved by the SBA.
You can learn something about getting a small business loan in Belgrade, Montana by studying this loan to a local business, made back in 2003. Banks like Valley Bank - Belgrade A Branch may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
BELGRADE, MT 59714
SBA Loan Lender
VALLEY BANK - BELGRADE A BRANCH
98 N BROADWAY
BELGRADE, MT 59714
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
541710 -
Loan Approval Date
12/2/2003
Loan Approval Gross Amount
$370,000
Loan Approval from the SBA
Of the total $370,000 loan amount, the SBA guaranteed $277,500.
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 14 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Valley Bank - Belgrade A Branch had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Valley Bank - Belgrade A Branch made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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:
How Much Venture Capital Is There?
SBA 7A Lenders in Belgrade, Montana
SBA Montana Banks