Polaris, Montana Business Gets SBA-Guaranteed Funding from First National Bank - Montana Inc.

An SBA loan from First National Bank - Montana Inc. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Polaris, Montana business owner got a $70,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First National Bank - Montana Inc., out of Butte, Montana. The loan was granted and they received $70,000 to help grow their Polaris, Montana business.

SBA Loan Borrower

COMPANY TYPE: ANIMAL SLAUGHTERING
POLARIS, MT 59746

SBA Loan Lender

FIRST NATIONAL BANK - MONTANA INC.
1940 DEWEY BLVD
BUTTE, MT 59702

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311611 - Animal Slaughtering

Loan Approval Date

8/1/2002

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $70,000 loan. Remember, anyone can do it... so why not you?

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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