Borrowing Money for Independent Artists, Writers, and Performers

Looking for bank loans for independent artists, writers, and performers? An SBA loan may be just what you've been looking for. This $140,000 independent artists, writers, and performers loan was issued by a Montana bank.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with 1st Bank, out of Sidney, Montana. The loan was granted and they received $140,000 to help grow their Broadus, Montana business.

SBA Loan Borrower

COMPANY TYPE: INDEPENDENT ARTISTS, WRITERS, AND PERFORMERS
BROADUS, MT 59317

SBA Loan Lender

1ST BANK
120 2ND ST NW
SIDNEY, MT 59270

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

711510 - Independent Artists, Writers, and Performers

Loan Approval Date

7/29/2004

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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 2 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like 1st Bank and they will explain how you can get an SBA loan for your company.

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:

VC Firms on Twitter

Small Business Banks in Sidney, Montana

Getting an SBA Loan in Montana