Borrowing Money for Site Preparation Contractors

Looking for loans for site preparation contractors? An SBA loan may be just what you've been looking for. This $82,400 site preparation contractors loan was issued by a Montana bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Corvallis, Montana was able to borrow $82,400 from First Security Bank - Missoula. The SBA made the loan possible by guaranteeing $70,040 of this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: SITE PREPARATION CONTRACTORS
CORVALLIS, MT 59828

SBA Loan Lender

FIRST SECURITY BANK - MISSOULA
100 MAIN ST
HAMILTON, MT 59840

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238910 - Site Preparation Contractors

Loan Approval Date

4/23/2003

Loan Approval Gross Amount

$82,400

Loan Approval from the SBA

Of the total $82,400 loan amount, the SBA guaranteed $70,040.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 only one employee. This SBA loan request did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Corvallis MT, you ought to talk with a local Corvallis SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Corvallis 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.

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