Local Business Gets an Idaho Business Loan

Would an Idaho business loan help your company expand? If so, you may want to talk with this Idaho bank, which offers SBA loans to Idaho entrepreneurs.

This small business, based in Eagle, 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 Banking Company. We've got the inside scoop on this Idaho small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIAL TRADE CONTRACTORS
EAGLE, ID 83616

SBA Loan Lender

IDAHO BANKING COMPANY
6010 FAIRVIEW AVE
BOISE, ID 83704

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1799 - Special Trade Contractors

Loan Approval Date

2/22/2000

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $96,000.

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

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

If you are wondering how to raise money for a company in Eagle ID, you ought to talk with a local Eagle SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Eagle 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 Banking Company 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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