First Interstate Bank SBA Loan to Automotive Services Company

Searching for a Wyoming small business loan? Here's one Wyoming business loan that was approved by the SBA.

This small business needed an SBA business loan in Sheridan, Wyoming back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from First Interstate Bank, operating out of Sheridan, Wyoming. Here are the details on this Wyoming small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE SERVICES
SHERIDAN, WY 82801

SBA Loan Lender

FIRST INTERSTATE BANK
1613 COFFEEN AVE
SHERIDAN, WY 82801

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7549 - Automotive Services

Loan Approval Date

1/21/2000

Loan Approval Gross Amount

$75,700

Loan Approval from the SBA

Of the total $75,700 loan amount, the SBA guaranteed $60,560.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Interstate Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Interstate Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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