Multifamily Housing Construction SBA Loans

Looking for SBA loans for multifamily housing construction? The SBA may be the answer. This $150,000 multifamily housing construction loan was issued by a Montana bank.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Mountain W. Bank, out of Great Falls, Montana. The loan was granted and they received $150,000 to help grow their Great Falls, Montana business.

SBA Loan Borrower

COMPANY TYPE: MULTIFAMILY HOUSING CONSTRUCTION
GREAT FALLS, MT 59404

SBA Loan Lender

MOUNTAIN W. BANK
12 3RD ST NW
GREAT FALLS, MT 59403

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

233220 - Multifamily Housing Construction

Loan Approval Date

6/16/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 9 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Mountain W. Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Obtaining Funding - How to Borrow Money

Best Great Falls, Montana Banks for Small Business

SBA Lenders in Montana