 |
 |
November 15, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Montana Business Loan Sources > Billings, Business Loans > Yellowstone Bank Billings Business Loans > Automotive Mechanical And Electrical Repair And Maintenance Loan | ||||
 |
||||
How Hard Is It to Get a Small Business Loan in Billings, Montana?
|
||||
 |
Automotive Mechanical and Electrical Repair and Maintenance LoansLooking for loans for automotive mechanical and electrical repair and maintenance? The SBA may be the answer. This $16,000 automotive mechanical and electrical repair and maintenance loan was issued by a Montana bank. This small firm knew how to go about getting a business bank loan. Based in Billings, Montana, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Yellowstone Bank, based in Billings, Montana. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE SBA Loan Lender YELLOWSTONE 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 811118 - Automotive Mechanical and Electrical Repair and Maintenance Loan Approval Date 12/2/2003 Loan Approval Gross Amount $16,000 Loan Approval from the SBA Of the total $16,000 loan amount, the SBA guaranteed $13,600. 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 only one employee. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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 SBA Banks in Billings, Montana
|
|
||
|
||||
|
|
||||