Community Bank-Missoula, Inc. SBA Loan to Commercial And Industrial Machinery And Equipment Company

Community Bank-Missoula, Inc. has a track record as a leading provider of SBA loans. Find out how this Montana entrepreneur received an SBA loan from them.

Getting a small business loan in Missoula, Montana was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Community Bank-Missoula, Inc., operating out of Missoula, Montana. Here are the details on this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
MISSOULA, MT 59803

SBA Loan Lender

COMMUNITY BANK-MISSOULA, INC.
3010 AMERICAN WAY
MISSOULA, MT 59808

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

8/1/2003

Loan Approval Gross Amount

$740,000

Loan Approval from the SBA

Of the total $740,000 loan amount, the SBA guaranteed $555,000.

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 8 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Understanding Dilution

Banks in Missoula, Montana

Montana SBA 7A Lenders