Helena, Montana Bank Lends Money to Luggage And Leather Goods Stores Company in Helena, Montana

Thinking about meeting with a Helena, Montana bank about an SBA loan? Here's one Montana business loan, issued by a Helena bank, that was approved by the SBA.

Applying for an SBA loan with First Security Bank Of Helena worked out well for our friends at one local business in Helena, Montana. They got an SBA loan for $106,785. Way to go!

SBA Loan Borrower

COMPANY TYPE: LUGGAGE AND LEATHER GOODS STORES
HELENA, MT 59601

SBA Loan Lender

FIRST SECURITY BANK OF HELENA
1721 11TH AVE
HELENA, MT 59601

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448320 - Luggage and Leather Goods Stores

Loan Approval Date

9/6/2005

Loan Approval Gross Amount

$106,785

Loan Approval from the SBA

Of the total $106,785 loan amount, the SBA guaranteed $90,767.

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 6 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

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.

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.

Related Links:

Dealing With Venture Capitalists

Best Banks for Small Business in Helena, Montana

Montana SBA 7A Banks