SBA Loan from Independence Bank Helps Hobby, Toy, And Game Shops Company

Independence Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Montana entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Gildford, Montana was an essential business goal for this firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Independence Bank, operating out of Havre, Montana. Here are the details on this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: HOBBY, TOY, AND GAME SHOPS
GILDFORD, MT 59525

SBA Loan Lender

INDEPENDENCE BANK
435 THIRD ST
HAVRE, MT 59501

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . 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.

SIC Code

5945 - Hobby, Toy, and Game Shops

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

7/21/2000

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $52,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Bank Credit Lines

Best Havre, Montana Banks for Small Business

Montana SBA Banks