New SBA 504 loans were approved for submittal to the US Small Business Administration for three Montana businesses by the Big Sky EDC, last week.The businesses were L & L Site Services Inc., Belgrade; SWIM, LLC/ Marinefighter,LLC (Sidewinders Tavern), Bozeman; and Mattress Land USA, Inc. (Barthel Properties, LLC), Billings. Director of Business Finance for EDC, Brandon Berger, said that the applications have been reviewed by The Big Sky EDC Loan Committee which recommended approval.Mattress Land USA, Inc. is seeking an SBA loan of $468,000 to refinance existing notes held by Yellowstone Bank, for the construction of a building in 2014 to house operations of both Furniture Land and Mattress Land. The loan comprises 20 percent of the total project cost.Joe and Denise Rice plan to build a new restaurant in Bozeman on Huffine Lane to be called Sidewinders. The restaurant will be the second one owned by the couple. A Sidewinders is already in successful operation in Jackson Hole, Wy. They also own several other restaurants in the Jackson area.The loan is for $1,167,000 which comprises 40 percent of the project cost. First Interstate Bank of Bozeman is in first lien position. Brandon noted that Rice is a veteran of the Marine Corp and the new business will employ 62.5 new jobs.L & L Site Services, an existing business, is acquiring land and plan to build a new building in Belgrade for their business which collects commercial and residential trash and recycling. They are relocating the business to a site off Jackrabbit Lane which provides good access to the surrounding areas.The business is projected to create 20 new jobs within the next two years as a result of the expansion. They are seeking a loan of $350,000, which will comprise 40 percent of the total project costs. Opportunity Bank of Bozeman is first lien holder on the land.

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