Financing for Audio and Video Equipment Manufacturing

With these loans for audio and video equipment manufacturing, the SBA guarantees the lender that the loan will be repaid. This audio and video equipment manufacturing loan for $250,000 was given to an Idaho entrepreneur in 2004.

This small firm knew how to go about getting a business bank loan. Based in Idaho Falls, Idaho, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Bank Of Idaho, based in Idaho Falls, Idaho.

SBA Loan Borrower

COMPANY TYPE: AUTOMATIC VENDING MACHINES
IDAHO FALLS, ID 83404

SBA Loan Lender

BANK OF IDAHO
2117 NIAGRA
IDAHO FALLS, ID 83404

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3581 - Automatic Vending Machines

NAICS Code

334310 - Audio and Video Equipment Manufacturing

Loan Approval Date

5/21/2004

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 5 employees. The loan application 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?

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 Bank Of Idaho 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:

How Equity Dilution Works

Small Business Banks in Idaho Falls, Idaho

Getting an SBA Loan in Idaho