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December 19, 2024 |
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| Home > Small Business Lenders by State > Montana Business Loan Sources > Three Forks, Business Loans > First Community Bank Three Forks Business Loans > Highway, Street, And Bridge Construction Loan | ||||
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SBA Lenders for Boulder, Montana Entrepreneurs
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Raising Money for Highway, Street, and Bridge ConstructionLooking for business loans for highway, street, and bridge construction? The SBA may be the answer. This $600,000 highway, street, and bridge construction loan was issued by a Montana bank. This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with First Community Bank, out of Three Forks, Montana. The loan was granted and they received $600,000 to help grow their Boulder, Montana business. SBA Loan Borrower COMPANY TYPE: HIGHWAY, STREET, AND BRIDGE CONSTRUCTION SBA Loan Lender FIRST COMMUNITY BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide small business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 237310 - Highway, Street, and Bridge Construction Loan Approval Date 5/13/2005 Loan Approval Gross Amount $600,000 Loan Approval from the SBA Of the total $600,000 loan amount, the SBA guaranteed $450,000. 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 19 employees. The loan application did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. 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: Best Banks in Three Forks, Montana
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