Montana Bank Loan Issued to Automotive Body, Paint, And Interior Repair And Maintenance Company

Small business loans in Montana are tough to come by these days. We take a look at one Montana small business loan, provided by a Montana bank, that was approved by the SBA.

Getting a small business loan in Billings, Montana was a top priority for this small company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First Cit. Bank - Billings. Here are the details on this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
BILLINGS, MT 59101

SBA Loan Lender

FIRST CIT. BANK - BILLINGS
2812 1ST AVE NORTH
BILLINGS, MT 59101

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

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

2/21/2002

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application 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 Billings MT, you ought to talk with a local Billings SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Billings businesses.

We can help you find the best banks for small businesses in Billings or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Strategic Investors

SBA 7A Banks in Billings, Montana

SBA Participating Banks in Montana