Financing for Specialty Food Stores

Looking for loans for specialty food stores? The SBA may be the answer. This $120,200 specialty food stores loan was issued by a Montana bank.

This small firm knew how to go about getting a business bank loan. Based in Billings, Montana, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Stockman Bank Of Montana, based in Billings, Montana.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
BILLINGS, MT 59106

SBA Loan Lender

STOCKMAN BANK OF MONTANA
2700 KING AVE WEST
BILLINGS, MT 59102

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

8/7/2001

Loan Approval Gross Amount

$120,200

Loan Approval from the SBA

Of the total $120,200 loan amount, the SBA guaranteed $90,150.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. This SBA loan request indicated that the funding would help generate 6 new jobs.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

Related Links:

Raising Venture Capital

SBA Participating Banks in Billings, Montana

SBA Montana Lenders