Hardware Stores Small Business Loans

With these small business loans for hardware stores, the SBA guarantees the lender that the loan will be repaid. This hardware stores loan for $761,500 was given to a Montana entrepreneur in 2003.

Getting a small business loan in Stevensville, Montana was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Farmers State Bank, operating out of Hamilton, Montana. Here are the details on this Montana small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
STEVENSVILLE, MT 59870

SBA Loan Lender

FARMERS STATE BANK
1950 N FIRST ST
HAMILTON, MT 59840

This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending track record and a thorough understanding of SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

5/1/2003

Loan Approval Gross Amount

$761,500

Loan Approval from the SBA

Of the total $761,500 loan amount, the SBA guaranteed $571,125.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 16 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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