Company Gets a Montana Business Loan

SBA loans in Montana are are few and far betweeen these days. We take a look at one Montana SBA loan, provided by a Montana bank, that was approved by the SBA.

You can learn something about getting a small business loan in Shepherd, Montana by studying this loan to a local business, made back in 2006. Banks like Western Security Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: POURED CONCRETE FOUNDATION AND STRUCTURE CONTRACTORS
SHEPHERD, MT 59079

SBA Loan Lender

WESTERN SECURITY BANK
2929 3RD AVE NORTH
BILLINGS, MT 59101

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238110 - Poured Concrete Foundation and Structure Contractors

Loan Approval Date

9/1/2006

Loan Approval Gross Amount

$234,000

Loan Approval from the SBA

Of the total $234,000 loan amount, the SBA guaranteed $175,500.

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 3 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to 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.

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

Related Links:

Borrowing Money from Friends and Family

SBA Approved Banks in Billings, Montana

Getting an SBA Loan in Montana