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November 15, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Boise, Business Loans > Syringa Bank Boise Business Loans > Eating Places Loan | ||||
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ID SBA Loan from Syringa Bank
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Syringa Bank SBA Loan to Eating Places CompanySyringa Bank has a track record as a leading provider of SBA loans. Find out how this Idaho entrepreneur received an SBA loan from them. This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Syringa Bank, out of Boise, Idaho. The loan was granted and they received $77,000 to help grow their Boise, Idaho business. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender SYRINGA BANK This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 8/14/2000 Loan Approval Gross Amount $77,000 Loan Approval from the SBA Of the total $77,000 loan amount, the SBA guaranteed $61,600. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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. Related Links:
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