Business Loan from Farmers State Bank Given to Full-Service Restaurants Company

Farmers State Bank has a track record as a leading provider of SBA loans. Find out how this Montana entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Farmers State Bank, out of Victor, Montana. The loan was granted and they received $349,000 to help grow their Florence, Montana business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
FLORENCE, MT 59833

SBA Loan Lender

FARMERS STATE BANK
103 MAIN ST
VICTOR, MT 59875

This lender processed this SBA small business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/28/2007

Loan Approval Gross Amount

$349,000

Loan Approval from the SBA

Of the total $349,000 loan amount, the SBA guaranteed $174,500.

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 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This SBA loan was for $349,000. How would you spend $349,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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SBA Participating Banks in Victor, Montana

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