Business Loans for Residential Care Facilities

With these business loans for residential care facilities, the SBA guarantees the lender that the loan will be repaid. This residential care facilities loan for $1,470,000 was given to a Montana entrepreneur in 2004.

Getting a small business loan in Helena, Montana was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Mountain W. Bank, operating out of Helena, Montana. Here are the details on this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL CARE FACILITIES
HELENA, MT 59601

SBA Loan Lender

MOUNTAIN W. BANK
1225 CEDAR
HELENA, MT 59601

This SBA business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending history and a deep knowledge SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

623990 - Residential Care Facilities

Loan Approval Date

6/22/2004

Loan Approval Gross Amount

$1,470,000

Loan Approval from the SBA

Of the total $1,470,000 loan amount, the SBA guaranteed $1,102,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 26 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

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.

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