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November 21, 2024 |
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| Home > Small Business Lenders by State > Montana Business Loan Sources > Billings, Business Loans > Western Security Bank Billings Business Loans > Advertising Agencies Loan | ||||
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MT Small Business Loans from Western Security Bank
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Billings, Montana Business Gets SBA-Guaranteed Funding from Western Security BankWestern Security Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Montana entrepreneur who tapped into the power of SBA loans. This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Western Security Bank, out of Billings, Montana. The loan was granted and they received $120,000 to help grow their Billings, Montana business. SBA Loan Borrower COMPANY TYPE: ADVERTISING AGENCIES SBA Loan Lender WESTERN SECURITY BANK 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 541810 - Advertising Agencies Loan Approval Date 8/29/2002 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. 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 12 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $120,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: The Friends and Family Network
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