SBA Loan from First Community Bank Helps Baked Goods Stores Company

First Community Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Montana entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Billings, Montana was an essential business goal for this firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First Community Bank, operating out of Glasgow, Montana. Here are the details on this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: BAKED GOODS STORES
BILLINGS, MT 59101

SBA Loan Lender

FIRST COMMUNITY BANK
540 2ND AVE SOUTH
GLASGOW, MT 59230

This lender issued this bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445291 - Baked Goods Stores

Loan Approval Date

7/21/2005

Loan Approval Gross Amount

$1,025,600

Loan Approval from the SBA

Of the total $1,025,600 loan amount, the SBA guaranteed $769,200.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 15 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $1,025,600. How would you spend $1,025,600 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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 Art of Bootstrapping

SBA 7A Banks for Glasgow, Montana Loans

Montana SBA Banks