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November 15, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Sandpoint, Business Loans > Panhandle State Bank Sandpoint Business Loans > General Automotive Repair Loan | ||||
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Panhandle State Bank
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Business Loan from Panhandle State Bank Given to General Automotive Repair CompanyPanhandle State 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 Fruitland, Idaho, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Panhandle State Bank, based in Sandpoint, Idaho. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender PANHANDLE STATE 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 811111 - General Automotive Repair Loan Approval Date 3/30/2005 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $17,500. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Start the Process for Getting an SBA Loan Today! If you are wondering how to raise money for a business in Fruitland ID, you ought to talk with a local Fruitland SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fruitland businesses. 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: Best Banks for Small Business in Sandpoint, Idaho
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