Staybridge Receives SBA Loan
FOR IMMEDIATE RELEASE
Alyssa L. Patton
Investor Relations Director
Phone: 406.771.9029
GREAT FALLS, MT – March 3, 2009 – On Thursday February 26, 2009 the Small Business Administration (SBA) notified Great Falls Development Authority that its request for a $2 million loan for the Staybridge Suites had been approved.
The majority of financing for Staybridge Suites came from Stockman Bank, and the SBA 504 loan was the final piece of the financing puzzle for the $14.5 million project. The City of
Staybridge Suites is currently under construction on the
“We truly appreciate the hard work and support we’ve received from the Great Falls Development Authority in bringing this project to fruition,” said Brad Talcott, developer of the hotel. “The work going on now is contributing between $1.5 and $2 million in wages and benefits to construction workers over a seven-month period.”
Staybridge Suites is projected to create 46 jobs for the community. Great Falls Development Authority thanks the project developers Brad Talcott and Linda Caricaburu for investing in
The Great Falls Development Authority (GFDA) is a local non-profit organization whose primary role is to enhance and stimulate economic growth in
The SBA 504 loan program is a long-term financing tool for economic development within a community to start, build and grow businesses. This program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings. To learn more about SBA 504 loans, contact Sheldon Bartel or
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