A A A

In the News - SBA 504 Loans Granted to Businesses

08/10/2009

BILLINGS MT (Aug 7 2009) The Big Sky EDC Board approved two SBA 504 loans upon the recommendation of the Loan Committee. The loans included a request from SSSS Holdings, LLC for $192,000 on a 20-year note, for the purpose of acquiring real estate at 225 N. 23rd Street, Billings. Stacy G. York, LLC will be the operating company occupying the property. The business provides mental health counseling service to children and families.

EDC loan officer, Brandon Berger, reported that the resulting business expansion is expected to create six new jobs, and that the project meets the SBA Public Policy goal of a woman owned business and a community development goal for being located in a HubZone. First Interstate Bank will be the participating lender.

The other loan request was from a Helena company, JK Helena, LLC. For approximately $2 million on a 20-year note, the loan will be used to acquire real estate and construction of a new Holiday Inn Express Hotel & Suite. The project is expected to create over 30 jobs, and meets wit the SBA Public Policy goal of rural development. Great Western Bank in Aberdeen, SD will be the participating lender.



Press Room, Big Sky Business Journal © 2009 -- All Rights Reserved