Conrad, Montana Business Gets SBA-Guaranteed Funding from Cit. St. Bank - Choteau Montana

An SBA loan from Cit. St. Bank - Choteau Montana typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Conrad, Montana business owner got a $50,000 loan.

Getting a small business loan in Conrad, Montana was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Cit. St. Bank - Choteau Montana, operating out of Choteau, Montana. Here are the details on this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: PERSONAL CARE SERVICES
CONRAD, MT 59425

SBA Loan Lender

CIT. ST. BANK - CHOTEAU MONTANA
201 N MAIN ST
CHOTEAU, MT 59422

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

5/12/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 2 employees. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cit. St. Bank - Choteau Montana had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cit. St. Bank - Choteau Montana made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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