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November 14, 2024 |
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| Home > Small Business Lenders by State > Montana Business Loan Sources > Whitefish, Business Loans > Glacier Bank Of Whitefish Whitefish Business Loans > Motor Vehicle Supplies And New Parts Loan | ||||
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Whitefish, Montana SBA Lenders
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Whitefish, Montana Bank Lends Money to Motor Vehicle Supplies And New Parts Company in Whitefish, MontanaGet to know Whitefish, Montana banks that specialize in business loans and know how to work with entrepreneurs. Glacier Bank Of Whitefish is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Whitefish, Montana starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Glacier Bank Of Whitefish. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS SBA Loan Lender GLACIER BANK OF WHITEFISH This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5013 - Motor Vehicle Supplies and New Parts Loan Approval Date 3/28/2000 Loan Approval Gross Amount $750,000 Loan Approval from the SBA Of the total $750,000 loan amount, the SBA guaranteed $675,000. 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 6 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Where to Get an SBA Loan in Whitefish, Montana
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