First Cit. Bank - Billings Gives Bank Loan to Service Establishment Equipment And Supplies Wholesalers Company

MontanaBank loans are available to Montana firms through the SBA. In this case, a Montana bank provides the loan.

You can learn something about getting a small business loan in Billings, Montana by studying this loan to a local company, made back in 2002. Banks like First Cit. Bank - Billings may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: SERVICE ESTABLISHMENT EQUIPMENT AND SUPPLIES WHOLESALERS
BILLINGS, MT 59102

SBA Loan Lender

FIRST CIT. BANK - BILLINGS
2812 1ST AVE NORTH
BILLINGS, MT 59101

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421850 - Service Establishment Equipment and Supplies Wholesalers

Loan Approval Date

6/14/2002

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help generate 7 new jobs and retain 11 existing jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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