SBA Loan from Yellowstone Bank Helps Full-Service Restaurants Company

An SBA loan from Yellowstone Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Billings, Montana business owner got a $32,300 loan.

This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Yellowstone Bank, out of Billings, Montana. The loan was granted and they received $32,300 to help grow their Billings, Montana business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
BILLINGS, MT 59105

SBA Loan Lender

YELLOWSTONE BANK
3010 THIRD AVE NORTH
BILLINGS, MT 59101

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program involves 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

722110 - Full-Service Restaurants

Loan Approval Date

4/23/2003

Loan Approval Gross Amount

$32,300

Loan Approval from the SBA

Of the total $32,300 loan amount, the SBA guaranteed $27,455.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

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Getting an SBA Loan in Montana