First Interstate Bank Gives Bank Loan to Snack And Nonalcoholic Beverage Bars Company

SBA loans in Wyoming are tough to come by these days. We take a look at one Wyoming SBA loan, provided by a Wyoming bank, that was approved by the SBA.

Getting a small business loan in Gillette, Wyoming was a top priority for this particular business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First Interstate Bank. Here are the details on this Wyoming small business loan.

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
GILLETTE, WY 82716

SBA Loan Lender

FIRST INTERSTATE BANK
222 S GILLETTE AVE
GILLETTE, WY 82716

This was a Low Documentation SBA loan. The SBA created 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

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

5/12/2003

Loan Approval Gross Amount

$92,000

Loan Approval from the SBA

Of the total $92,000 loan amount, the SBA guaranteed $78,200.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 7 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Interstate Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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