Local Business Gets an Idaho Small Business Loan

Searching for an Idaho business loan? This Idaho entrepreneur got a business loan, provided by an Idaho bank that works with the SBA to help small business owners.

This small business, based in American Falls, Idaho, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of Idaho. We've got the inside scoop on this Idaho small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIAL INDUSTRY MACHINERY
AMERICAN FALLS, ID 83211

SBA Loan Lender

BANK OF IDAHO
1230 YELLOWSTONE
POCATELLO, ID 83201

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3559 - Special Industry Machinery

NAICS Code

333319 - Commercial and Service Industry Machinery Manufacturing

Loan Approval Date

12/9/2003

Loan Approval Gross Amount

$962,000

Loan Approval from the SBA

Of the total $962,000 loan amount, the SBA guaranteed $721,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 36 employees. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in American Falls ID, you ought to talk with a local American Falls SBA lender or talk with an out-of-area SBA lender that has previously loaned money to American Falls businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $962,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

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