Stockman Bank Of Montana Gives Bank Loan to Clothing Stores Company

Want a Montana business loan? This Montana entrepreneur got a business loan, provided by a Montana bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Sidney, Montana by studying this loan to a local business, made back in 2004. Banks like Stockman Bank Of Montana may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
SIDNEY, MT 59270

SBA Loan Lender

STOCKMAN BANK OF MONTANA
700 MAIN ST
MILES CITY, MT 59301

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448190 - Clothing Stores

Loan Approval Date

11/9/2004

Loan Approval Gross Amount

$29,000

Loan Approval from the SBA

Of the total $29,000 loan amount, the SBA guaranteed $24,650.

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 2 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $29,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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 to Raise Money

SBA 7A Banks for Miles City, Montana Loans

Getting a Business Loan in Montana