Billings, Montana Business Gets SBA-Guaranteed Funding from Yellowstone Bank

Yellowstone Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Montana entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Yellowstone Bank, out of Laurel, Montana. The loan was granted and they received $76,400 to help grow their Billings, Montana business.

SBA Loan Borrower

COMPANY TYPE: RESEARCH AND DEVELOPMENT IN THE SOCIAL SCIENCES AND HUMANITIES
BILLINGS, MT 59101

SBA Loan Lender

YELLOWSTONE BANK
12 1ST AVE
LAUREL, MT 59044

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541720 - Research and Development in the Social Sciences and Humanities

Loan Approval Date

9/28/2004

Loan Approval Gross Amount

$76,400

Loan Approval from the SBA

Of the total $76,400 loan amount, the SBA guaranteed $64,940.

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 3 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Yellowstone Bank 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.

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