Business Loan from First Interstate Bank Given to Family Clothing Stores 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.

This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First Interstate Bank, out of Billings, Montana. The loan was granted and they received $135,000 to help grow their Billings, Montana business.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
BILLINGS, MT 59101

SBA Loan Lender

FIRST INTERSTATE BANK
730 MAIN ST
BILLINGS, MT 59105

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

7/10/2003

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $114,750.

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 6 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Financing Your Business

Small Bank Loans in Billings, Montana

Montana SBA 7A Lenders