Billings, Montana Entrepreneur Gets a Business Loan

Looking to get a Montana bank loan? This Montana entrepreneur got a bank loan, provided by a Montana bank that works with the SBA to help small business owners.

This business, based in Billings, Montana, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Stockman Bank Of Montana. We've got the inside scoop on this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
BILLINGS, MT 59105

SBA Loan Lender

STOCKMAN BANK OF MONTANA
700 MAIN ST
MILES CITY, MT 59301

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

2/16/2007

Loan Approval Gross Amount

$598,400

Loan Approval from the SBA

Of the total $598,400 loan amount, the SBA guaranteed $448,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 25 employees. This SBA loan request indicated that the loan would help generate 7 new jobs and retain 25 existing jobs.

Getting an SBA Loan For Your Business

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Stockman Bank Of Montana that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Business Incubators

SBA 7A Banks for Miles City, Montana Loans

Getting an SBA Loan in Montana