Polson, MT Entrepreneur Gets SBA Loan to Buy Radio Shack Franchise

Need money to invest in a Radio Shack franchise? Glacier Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Radio Shack franchise is doable. In 2000, Glacier Bank issued an SBA franchise loan to an entrepreneur in Polson, Montana. Because Radio Shack was registered with the SBA's registry of franchises, this Montana small business loan was issued on an expedited basis.

SBA Loan Borrower

POLSON ELECTRONICS
POLSON, MT 59860

SBA Loan Lender

GLACIER BANK
202 MAIN ST
KALISPELL, MT 59901

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.

SIC Code

5731 - Radio, TV, and Consumer Electronics Retailing

NAICS Code

443112 - Radio, Television, and Electronics Stores

Loan Approval Date

3/7/2000

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $72,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Radio Shack franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Glacier Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Glacier 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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