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May 14, 2024 |
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| Home > Small Business Lenders by State > Montana Business Loan Sources > Billings, Business Loans > Yellowstone Bank Billings Business Loans > Sawmill And Woodworking Machinery Manufacturing Loan | ||||
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SBA 7A Banks for Bozeman, Montana Small Businesses
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Financing for Sawmill and Woodworking Machinery ManufacturingLooking for loans for sawmill and woodworking machinery manufacturing? An SBA loan may be just what you've been looking for. This $400,000 sawmill and woodworking machinery manufacturing loan was issued by a Montana bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bozeman, Montana was able to borrow $400,000 from Yellowstone Bank. The SBA made the loan possible by guaranteeing $300,000 of this Montana small business loan. SBA Loan Borrower COMPANY TYPE: SAWMILL AND WOODWORKING MACHINERY MANUFACTURING SBA Loan Lender YELLOWSTONE BANK This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending track record and a deep knowledge SBA loan requirements. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333210 - Sawmill and Woodworking Machinery Manufacturing Loan Approval Date 3/28/2003 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 11 employees. This SBA loan request did not indicate that the small business promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Billings, Montana Banks for Small Business
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