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EDC Makes Loans to Two Businesses
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- Created on Wednesday, 04 May 2011 09:20
The Big Sky Economic Development Corporation (EDC) recently approved two SBA 504 loan requests.
Big Sky Psychiatry Services, PC of Billings is purchasing a new building and remodeling. For that they have acquired a $349,000 SBA 504 loan. The general psychiatry practice employs three people and anticipates adding seven more staff member of over the next two years. The loan represents 40 percent of the project costs, and is on a 20 year note. The project is being financed through First Interstate Bank.
H & K, Inc. of Wolf Point is receiving a $128,000 loan to expand its retail clothing store, Bryan’s. The business is relocating into a new, larger facility. It’s a family run business that has been in existence for 69 years. It employees eight people and the owners are planning on hiring an additional three employees. The loan represents 40 percent of the total project cost, and is on 20 year note. The project is otherwise financed by Western Bank of Wolf Point.
