Raising Money for Nonmetallic Mineral Product Manufacturing

With these business loans for nonmetallic mineral product manufacturing, the SBA guarantees the lender that the loan will be repaid. This nonmetallic mineral product manufacturing loan for $17,900 was given to a Montana entrepreneur in 2001.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Yellowstone Bank, out of Billings, Montana. The loan was granted and they received $17,900 to help grow their Billings, Montana business.

SBA Loan Borrower

COMPANY TYPE: NONMETALLIC MINERAL PRODUCT MANUFACTURING
BILLINGS, MT 59102

SBA Loan Lender

YELLOWSTONE BANK
2000 OVERLAND AVE
BILLINGS, MT 59102

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

327999 - Nonmetallic Mineral Product Manufacturing

Loan Approval Date

4/11/2001

Loan Approval Gross Amount

$17,900

Loan Approval from the SBA

Of the total $17,900 loan amount, the SBA guaranteed $15,215.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan application for the borrower did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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.

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

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