Coeur D'Alene, Idaho Entrepreneur Gets an SBA Loan

Bank loans in Idaho are hard to find these days. We take a look at one Idaho bank loan, provided by an Idaho bank, that was approved by the SBA.

This company, based in Coeur D'Alene, 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 Idaho Independent Bank. We've got the inside scoop on this Idaho small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
COEUR D'ALENE, ID 83814

SBA Loan Lender

IDAHO INDEPENDENT BANK
1260 W RIVERSTONE DR
COEUR D'ALENE, ID 83814

This loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending track record and a thorough understanding of SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/31/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 50 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small 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 Idaho Independent 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:

Obtaining Funding From a Venture Capitalist

Find an SBA Lender in Coeur D'Alene, Idaho

SBA Participating Banks in Idaho