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May 16, 2024 |
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| Home > Small Business Lenders by State > Montana Business Loan Sources > Kalispell, Business Loans > Mountain W. Bank - Kalispell Nat Kalispell Business Loans > Coffee And Tea Manufacturing Loan | ||||
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Kalispell Bank Loan
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Kalispell, Montana Bank Lends Money to Coffee And Tea Manufacturing Company in Columbia Falls, MontanaGet to know Kalispell, Montana banks that specialize in small business loans and know how to work with entrepreneurs. Mountain W. Bank - Kalispell Nat is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Columbia Falls, Montana starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Mountain W. Bank - Kalispell Nat. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: COFFEE AND TEA MANUFACTURING SBA Loan Lender MOUNTAIN W. BANK - KALISPELL NAT 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 311920 - Coffee and Tea Manufacturing Loan Approval Date 10/27/2003 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $76,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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: Best Kalispell, Montana Banks for Small Business
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