Stevensville, Montana Business Gets SBA-Guaranteed Funding from Farmers State Bank

Farmers State Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Montana entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Stevensville, Montana was an essential business goal for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Farmers State Bank, operating out of Victor, Montana. Here are the details on this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
STEVENSVILLE, MT 59870

SBA Loan Lender

FARMERS STATE BANK
103 MAIN ST
VICTOR, MT 59875

This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

4/2/2004

Loan Approval Gross Amount

$10,500

Loan Approval from the SBA

Of the total $10,500 loan amount, the SBA guaranteed $8,925.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Farmers State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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