Billings, Montana Bank Gives SBA Loan to Electrical Contractors And Wiring Installation Contractors Company

Want to talk with a Billings, Montana bank about a small business loan? Here's one Wyoming business loan, issued by a Billings bank, that was approved by the SBA.

Applying for an SBA loan with First Interstate Bank worked out well for our friends at one local firm in Casper, Wyoming. They got an SBA loan for $40,000. Nice!

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS
CASPER, WY 82604

SBA Loan Lender

FIRST INTERSTATE BANK
401 N 31ST ST
BILLINGS, MT 59101

This lender issued this particular bank 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.

NAICS Code

238210 - Electrical Contractors and Wiring Installation Contractors

Loan Approval Date

5/19/2005

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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.

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