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December 20, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Burley, Business Loans > D. L. Evans Bank Burley Business Loans > Video Tape And Disc Rental Loan | ||||
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Best Banks for Boise Business Owners
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Idaho Bank Loan Issued to Video Tape And Disc Rental CompanySearching for an Idaho bank loan? This Idaho entrepreneur got a bank loan, provided by an Idaho bank that works with the SBA to help small business owners. By giving the right information to D. L. Evans Bank, this Boise, Idaho business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: VIDEO TAPE AND DISC RENTAL SBA Loan Lender D. L. EVANS BANK This lender issued this particular SBA bank 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. NAICS Code 532230 - Video Tape and Disc Rental Loan Approval Date 11/29/2004 Loan Approval Gross Amount $46,300 Loan Approval from the SBA Of the total $46,300 loan amount, the SBA guaranteed $39,355. More Information on This SBA Loan The borrower borrowed this money for a new 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 3 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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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