Shoshone First Bank Gives Small Business Loan to Optical Instrument And Lens Manufacturing Company

Looking to get a Wyoming small business loan? This Wyoming entrepreneur got a small business loan, provided by a Wyoming bank that works with the SBA to help small business owners.

Getting a small business loan in Otto, Wyoming was a top priority for this small company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Shoshone First Bank. Here are the details on this Wyoming small business loan.

SBA Loan Borrower

COMPANY TYPE: OPTICAL INSTRUMENT AND LENS MANUFACTURING
OTTO, WY 82434

SBA Loan Lender

SHOSHONE FIRST BANK
1401 SHERIDAN AVE
CODY, WY 82414

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

333314 - Optical Instrument and Lens Manufacturing

Loan Approval Date

8/7/2007

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

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 only one employee. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Shoshone First Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Shoshone First Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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