First Interstate Bank SBA Loan to Prerecorded Tape, Compact Disc, And Record Stores Company

First Interstate 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 growing company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with First Interstate Bank, out of Billings, Montana. The loan was granted and they received $80,500 to help grow their Kalispell, Montana business.

SBA Loan Borrower

COMPANY TYPE: PRERECORDED TAPE, COMPACT DISC, AND RECORD STORES
KALISPELL, MT 59901

SBA Loan Lender

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

The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

451220 - Prerecorded Tape, Compact Disc, and Record Stores

Loan Approval Date

9/15/2005

Loan Approval Gross Amount

$80,500

Loan Approval from the SBA

Of the total $80,500 loan amount, the SBA guaranteed $40,250.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 First Interstate 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 - Getting Venture Capital

Best Banks for Small Business in Billings, Montana

Montana SBA 7A Lenders