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May 16, 2024 |
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| Home > Small Business Lenders by State > Montana Business Loan Sources > Billings, Business Loans > Rocky Mountain Bank Billings Business Loans > Full-Service Restaurants Loan | ||||
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Rocky Mountain Bank Small Business Jordan
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Jordan, Montana Business Gets SBA-Guaranteed Funding from Rocky Mountain BankRocky Mountain Bank has a track record as a leading provider of SBA loans. Find out how this Montana entrepreneur received an SBA loan from them. This business knew how to go about getting a business bank loan. Based in Jordan, Montana, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Rocky Mountain Bank, based in Billings, Montana. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender ROCKY MOUNTAIN BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 4/12/2005 Loan Approval Gross Amount $107,000 Loan Approval from the SBA Of the total $107,000 loan amount, the SBA guaranteed $90,950. 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 3 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to add employees 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 $107,000 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: Find an SBA Lender in Billings, Montana
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