Getting an SBA Loan for Food Service Contractors

With these SBA loans for food service contractors, the SBA guarantees the lender that the loan will be repaid. This food service contractors loan for $90,000 was given to a Montana entrepreneur in 2004.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Valley Bank Of Ronan, out of Ronan, Montana. The loan was granted and they received $90,000 to help grow their Hot Springs, Montana business.

SBA Loan Borrower

COMPANY TYPE: FOOD SERVICE CONTRACTORS
HOT SPRINGS, MT 59845

SBA Loan Lender

VALLEY BANK OF RONAN
63659 HWY 93 SOUTH
RONAN, MT 59864

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722310 - Food Service Contractors

Loan Approval Date

5/24/2004

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

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 5 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $90,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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