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May 12, 2024 |
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| Home > Small Business Lenders by State > Montana Business Loan Sources > Billings, Business Loans > Yellowstone Bank Billings Business Loans > Special Trade Contractors Loan | ||||
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SBA 7A Banks That Lend to Billings Business Owners
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Montana Small Business Loan Issued to Special Trade Contractors CompanyMontanaBusiness loans are available to Montana business owners through the SBA. In this case, a Montana bank provides the loan. This small business, based in Billings, Montana, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Yellowstone Bank. We've got the inside scoop on this Montana small business loan. SBA Loan Borrower COMPANY TYPE: SPECIAL TRADE CONTRACTORS SBA Loan Lender YELLOWSTONE BANK 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 235990 - Special Trade Contractors Loan Approval Date 12/7/2000 Loan Approval Gross Amount $27,600 Loan Approval from the SBA Of the total $27,600 loan amount, the SBA guaranteed $22,080. 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 2 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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
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