Sidney, Montana Bank Lends Money to Specialized Local Freight Trucking Company in Sidney, Montana

Want to talk with a Sidney, Montana bank about an SBA loan? Here's one Montana business loan, issued by a Sidney bank, that was approved by the SBA.

Applying for an SBA loan with 1st Bank worked out well for our friends at one local firm in Sidney, Montana. The business was able to get an SBA loan for $666,900. Nice!

SBA Loan Borrower

COMPANY TYPE: SPECIALIZED LOCAL FREIGHT TRUCKING
SIDNEY, MT 59270

SBA Loan Lender

1ST BANK
120 2ND ST NW
SIDNEY, MT 59270

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

484220 - Specialized Local Freight Trucking

Loan Approval Date

5/26/2004

Loan Approval Gross Amount

$666,900

Loan Approval from the SBA

Of the total $666,900 loan amount, the SBA guaranteed $500,175.

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 14 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into 1st Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Obtaining Funding From a Venture Capitalist

SBA Approved Banks in Sidney, Montana

Getting a Business Loan in Montana