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May 17, 2024 |
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| Home > Small Business Lenders by State > Montana Business Loan Sources > Billings, Business Loans > Stockman Bank Of Montana Billings Business Loans > Roofing, Siding, And Sheet Metal Contractors Loan | ||||
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Banks in Montana
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Where to Get Capital for Roofing, Siding, and Sheet Metal ContractorsLooking for small business loans for roofing, siding, and sheet metal contractors? The SBA may be the answer. This $200,000 roofing, siding, and sheet metal contractors loan was issued by a Montana bank. This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Stockman Bank Of Montana, out of Billings, Montana. The loan was granted and they received $200,000 to help grow their Billings, Montana business. SBA Loan Borrower COMPANY TYPE: ROOFING, SIDING, AND SHEET METAL CONTRACTORS SBA Loan Lender STOCKMAN BANK OF MONTANA This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235610 - Roofing, Siding, and Sheet Metal Contractors Loan Approval Date 9/30/2002 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Although it's called an SBA loan, you 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. 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: SBA Approved Banks in Billings, Montana
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