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May 18, 2024 |
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| Home > Small Business Lenders by State > Montana Business Loan Sources > Billings, Business Loans > Rocky Mountain Bank Billings Business Loans > Construction And Mining Machinery Loan | ||||
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Rocky Mountain Bank
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Rocky Mountain Bank SBA Loan to Construction And Mining Machinery CompanyRocky Mountain Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Montana entrepreneur who tapped into the power of SBA loans. This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Rocky Mountain Bank, out of Billings, Montana. The loan was granted and they received $833,000 to help grow their Billings, Montana business. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION AND MINING MACHINERY SBA Loan Lender ROCKY MOUNTAIN BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5082 - Construction and Mining Machinery NAICS Code 421810 - Construction and Mining Machinery and Equipment Wholesale Loan Approval Date 2/19/2002 Loan Approval Gross Amount $833,000 Loan Approval from the SBA Of the total $833,000 loan amount, the SBA guaranteed $749,700. 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 57 employees. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. We can help you find the best banks for small businesses in Billings 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: SBA 7A Banks in Billings, Montana SBA Participating Banks in Montana
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