Multifamily Housing Construction Small Business Loans

With these small business loans for multifamily housing construction, the SBA guarantees the lender that the loan will be repaid. This multifamily housing construction loan for $322,000 was given to a Montana entrepreneur in 2001.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Mountain W. Bank, out of Helena, Montana. The loan was granted and they received $322,000 to help grow their Helena, Montana business.

SBA Loan Borrower

COMPANY TYPE: MULTIFAMILY HOUSING CONSTRUCTION
HELENA, MT 59601

SBA Loan Lender

MOUNTAIN W. BANK
1225 CEDAR
HELENA, MT 59601

At the time this loan was granted, this bank participated in the SBA's Certified Lenders Program (CLP). This program was created to give expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

233220 - Multifamily Housing Construction

Loan Approval Date

2/27/2001

Loan Approval Gross Amount

$322,000

Loan Approval from the SBA

Of the total $322,000 loan amount, the SBA guaranteed $241,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 50 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

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:

Investor Turnoffs

Small Business Banks in Helena, Montana

Browse All Business Loan Sources for Montana