Bank Loans for Special Trade Contractors

With these bank loans for special trade contractors, the SBA guarantees the lender that the loan will be repaid. This special trade contractors loan for $74,800 was given to a Montana entrepreneur in 2003.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First National Bank - Fairfield, out of Fairfield, Montana. The loan was granted and they received $74,800 to help grow their Fairfield, Montana business.

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
FAIRFIELD, MT 59436

SBA Loan Lender

FIRST NATIONAL BANK - FAIRFIELD
321 CENTRAL AVE
FAIRFIELD, MT 59436

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235990 - Special Trade Contractors

Loan Approval Date

5/7/2003

Loan Approval Gross Amount

$74,800

Loan Approval from the SBA

Of the total $74,800 loan amount, the SBA guaranteed $63,580.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First National Bank - Fairfield had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First National Bank - Fairfield 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.

Related Links:

Determining Proper Capital Structure for a Business

Small Bank Loans in Fairfield, Montana

SBA Participating Banks in Montana