First Interstate Bank SBA Loan to Hotels And Motels Company

First Interstate Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Montana entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with First Interstate Bank, out of Livingston, Montana. The loan was granted and they received $183,000 to help grow their Cooke City, Montana business.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
COOKE CITY, MT 59020

SBA Loan Lender

FIRST INTERSTATE BANK
2ND & CALLENDER STS
LIVINGSTON, MT 59047

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/7/2000

Loan Approval Gross Amount

$183,000

Loan Approval from the SBA

Of the total $183,000 loan amount, the SBA guaranteed $137,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

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

If you need business start up money in Cooke City MT, you ought to talk with a local Cooke City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cooke City businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

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Find an SBA Lender in Livingston, Montana

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