United Bank Gives Bank Loan to Leather Good And Allied Product Manufacturing Company

Business loans in Montana are are few and far betweeen these days. We take a look at one Montana business loan, provided by a Montana bank, that was approved by the SBA.

By giving the right information to United Bank, this Absarokee, Montana business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: LEATHER GOOD AND ALLIED PRODUCT MANUFACTURING
ABSAROKEE, MT 59001

SBA Loan Lender

UNITED BANK
3 WOODARD ST
ABSAROKEE, MT 59001

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.

NAICS Code

316999 - Leather Good and Allied Product Manufacturing

Loan Approval Date

2/26/2004

Loan Approval Gross Amount

$52,000

Loan Approval from the SBA

Of the total $52,000 loan amount, the SBA guaranteed $44,200.

More Information on This SBA Loan

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

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Absarokee MT, you ought to talk with a local Absarokee SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Absarokee businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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 - How to Borrow Money

Find an SBA Lender in Absarokee, Montana

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