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May 14, 2024 |
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| Home > Small Business Lenders by State > Montana Business Loan Sources > Bozeman, Business Loans > First Security Bank Bozeman Business Loans > Concrete Contractors Loan | ||||
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Raising Money in Bozeman, Montana With SBA Loans
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Montana Bank Loan Issued to Concrete Contractors CompanyBusiness loans in Montana are tough to come by these days. We take a look at one Montana business loan, provided by a Montana bank, that was approved by the SBA. This small business, based in Bozeman, 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 First Security Bank. We've got the inside scoop on this Montana small business loan. SBA Loan Borrower COMPANY TYPE: CONCRETE CONTRACTORS SBA Loan Lender FIRST SECURITY BANK This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235710 - Concrete Contractors Loan Approval Date 5/2/2001 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. 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 4 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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 $60,000 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:
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