Montana Business Loan Issued to Family Clothing Stores Company
MontanaBank loans are available to Montana firms through the SBA. In this case, a Montana bank provides the loan.
This company, based in Missoula, Montana, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First National Bank - Montana Inc.. We've got the inside scoop on this Montana small business loan.
SBA Loan Borrower
COMPANY TYPE: FAMILY CLOTHING STORES
MISSOULA, MT 59802
SBA Loan Lender
FIRST NATIONAL BANK - MONTANA INC.
201 N HIGGINS
MISSOULA, MT 59802
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5651 - Family Clothing Stores
NAICS Code
448140 - Family Clothing Stores
Loan Approval Date
10/13/2000
Loan Approval Gross Amount
$15,000
Loan Approval from the SBA
Of the total $15,000 loan amount, the SBA guaranteed $12,000.
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 3 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to add 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.
We've showcased information on this loan to let you know that businesses like yours 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
SBA 7A Banks in Missoula, Montana
Montana SBA Bank Lenders