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November 15, 2024 |
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| Home > Small Business Lenders by State > Montana Business Loan Sources > Billings, Business Loans > Yellowstone Bank Billings Business Loans > Industrial Machinery And Equipment Wholesalers Loan | ||||
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Billings, Montana Bank Loan
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Yellowstone Bank Gives SBA Loan to Industrial Machinery And Equipment Wholesalers CompanyMontanaBusiness loans are available to Montana business owners through the SBA. In this case, a Montana bank provides the loan. This small 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 Yellowstone Bank. We've got the inside scoop on this Montana small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT WHOLESALERS SBA Loan Lender YELLOWSTONE BANK 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 421830 - Industrial Machinery and Equipment Wholesalers Loan Approval Date 7/1/2003 Loan Approval Gross Amount $249,500 Loan Approval from the SBA Of the total $249,500 loan amount, the SBA guaranteed $187,125. 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 23 employees. The loan application indicated that the loan would help generate 7 new jobs and retain 23 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: SBA 7A Banks in Billings, Montana
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