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May 18, 2024 |
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| Home > Small Business Lenders by State > Montana Business Loan Sources > Dickinson, Business Loans > Bank Of The West Dickinson Business Loans > Membership-Based Organization Hotels And Lodging Loan | ||||
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How to Get a Business Loan from Bank Of The West
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Business Loan from Bank Of The West Given to Membership-Based Organization Hotels And Lodging CompanyBank Of The West and the SBA work together to get business loans for growing small businesses. Here's an example of how a Montana entrepreneur was able to get a loan to take a small business to the next level. This growing company knew how to go about getting a business bank loan. Based in Wibux, Montana, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Bank Of The West, based in Dickinson, North Dakota. SBA Loan Borrower COMPANY TYPE: MEMBERSHIP-BASED ORGANIZATION HOTELS AND LODGING SBA Loan Lender BANK OF THE WEST This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7041 - Membership-Based Organization Hotels and Lodging Loan Approval Date 1/27/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 6 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan 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. We can help you find the best banks for small businesses in Wibux or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Raising VC Money for Social Networking Companies SBA 7A Banks for Dickinson, North Dakota Loans
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