Commercial and Industrial Machinery and Equipment Business Loans

Looking for business loans for commercial and industrial machinery and equipment? An SBA loan may be just what you've been looking for. This $126,600 commercial and industrial machinery and equipment loan was issued by a Montana bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Billings, Montana was able to borrow $126,600 from Yellowstone Bank. The SBA made the loan possible by guaranteeing $107,610 of this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
BILLINGS, MT 59101

SBA Loan Lender

YELLOWSTONE BANK
2000 OVERLAND AVE
BILLINGS, MT 59102

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

6/25/2002

Loan Approval Gross Amount

$126,600

Loan Approval from the SBA

Of the total $126,600 loan amount, the SBA guaranteed $107,610.

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 12 employees. The SBA loan application for the borrower indicated that the loan would help retain 11 existing jobs.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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