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January 22, 2025 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Coeur D'Alene, Business Loans > Mountain West Bank Coeur D'Alene Business Loans > Child Day Care Services Loan | ||||
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Idaho Bank SBA Loans
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Mountain West Bank SBA Loan to Child Day Care Services CompanyMountain West 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 growing company knew how to go about getting a business bank loan. Based in Coeur D'Alene, Idaho, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Mountain West Bank, based in Coeur D'Alene, Idaho. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender MOUNTAIN WEST BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 624410 - Child Day Care Services Loan Approval Date 4/24/2002 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are raising money in Coeur D'Alene ID, you ought to talk with a local Coeur D'Alene SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Coeur D'Alene businesses. 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 Mountain West 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. Related Links:
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