Get an SBA Loan for Textile Product Mills

With these small business loans for textile product mills, the SBA guarantees the lender that the loan will be repaid. This textile product mills loan for $15,600 was given to a Montana entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lolo, Montana was able to borrow $15,600 from Farmers State Bank. The SBA made the loan possible by guaranteeing $13,260 of this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: TEXTILE PRODUCT MILLS
LOLO, MT 59847

SBA Loan Lender

FARMERS STATE BANK
103 MAIN ST
VICTOR, MT 59875

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

314999 - Textile Product Mills

Loan Approval Date

12/8/2003

Loan Approval Gross Amount

$15,600

Loan Approval from the SBA

Of the total $15,600 loan amount, the SBA guaranteed $13,260.

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 only one employee. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Farmers State Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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