Business Loan from First Interstate Bank Given to General Automotive Repair Company

An SBA loan from First Interstate Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Livingston, Montana business owner got a $70,000 loan.

Getting a small business loan in Livingston, Montana was an essential business goal for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First Interstate Bank, operating out of Livingston, Montana. Here are the details on this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
LIVINGSTON, MT 59047

SBA Loan Lender

FIRST INTERSTATE BANK
2ND & CALLENDER STS
LIVINGSTON, MT 59047

At the time this loan was granted, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program is designed to ensure speedy 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

811111 - General Automotive Repair

Loan Approval Date

6/27/2002

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Livingston MT, you ought to talk with a local Livingston SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Livingston 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:

Advice on Getting a Small Business Loan

Small Business Banks in Livingston, Montana

Getting an SBA Loan in Montana