Bank Loans for Drinking Places

With these bank loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $120,000 was given to a Montana entrepreneur in 2002.

This company knew how to go about getting a business bank loan. Based in Cut Bank, Montana, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Stockman Bank Of Montana, based in Cut Bank, Montana.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
CUT BANK, MT 59427

SBA Loan Lender

STOCKMAN BANK OF MONTANA
125 W MAIN ST
CUT BANK, MT 59427

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places

Loan Approval Date

11/18/2002

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 7 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Cut Bank MT, you ought to talk with a local Cut Bank SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cut Bank 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.

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