Business Loan from D. L. Evans Bank Given to Food Product Machinery Manufacturing Company

D. L. Evans Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Idaho entrepreneur who tapped into the power of SBA loans.

This small firm knew how to go about getting a business bank loan. Based in Burley, Idaho, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was D. L. Evans Bank, based in Burley, Idaho.

SBA Loan Borrower

COMPANY TYPE: FOOD PRODUCT MACHINERY MANUFACTURING
BURLEY, ID 83318

SBA Loan Lender

D. L. EVANS BANK
397 N OVERLAND AVE
BURLEY, ID 83318

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333294 - Food Product Machinery Manufacturing

Loan Approval Date

5/31/2005

Loan Approval Gross Amount

$252,600

Loan Approval from the SBA

Of the total $252,600 loan amount, the SBA guaranteed $189,450.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 207 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into D. L. Evans Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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