Western Security Bank SBA Loan to Highway And Street Construction Company

An SBA loan from Western Security 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 $544,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Billings, Montana was able to borrow $544,000 from Western Security Bank. The SBA made the loan possible by guaranteeing $408,000 of this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: HIGHWAY AND STREET CONSTRUCTION
BILLINGS, MT 59107

SBA Loan Lender

WESTERN SECURITY BANK
2929 3RD AVE NORTH
BILLINGS, MT 59101

This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending track record and are well trained in SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

234110 - Highway and Street Construction

Loan Approval Date

6/3/2003

Loan Approval Gross Amount

$544,000

Loan Approval from the SBA

Of the total $544,000 loan amount, the SBA guaranteed $408,000.

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 44 employees. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Western Security Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Western Security 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.

Related Links:

Raising VC Money for Social Networking Companies

Best Banks for Small Business in Billings, Montana

SBA Montana Banks