Business Loan from First Interstate Bank Given to Child Day Care Services Company

First Interstate 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 company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First Interstate Bank, operating out of Billings, Montana. Here are the details on this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
BILLINGS, MT 59105

SBA Loan Lender

FIRST INTERSTATE BANK
2501 CENTRAL AVE
BILLINGS, MT 59102

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

3/13/2003

Loan Approval Gross Amount

$88,000

Loan Approval from the SBA

Of the total $88,000 loan amount, the SBA guaranteed $74,800.

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 only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Interstate Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Interstate Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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