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May 11, 2024 |
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| Home > Small Business Lenders by State > Montana Business Loan Sources > Billings, Business Loans > Yellowstone Bank Billings Business Loans > Hotels And Motels Loan | ||||
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Small Business Banks for Red Lodge Business Owners
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Hotels and Motels SBA LoansLooking for SBA loans for hotels and motels? Talk to a banker who works with the SBA. This $350,000 hotels and motels loan was issued by a Montana bank. This small business knew how to go about getting a business bank loan. Based in Red Lodge, Montana, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Yellowstone Bank, based in Billings, Montana. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender YELLOWSTONE BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 2/5/2004 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $262,500. 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 3 employees. The loan application indicated that the loan would help retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! 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 Yellowstone 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: Where to Get an SBA Loan in Billings, Montana
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