Idaho SBA Loan Issued to Primary Metal Products Company

Business loans in Idaho are tough to come by these days. We take a look at one Idaho business loan, provided by an Idaho bank, that was approved by the SBA.

By giving the right information to Farmers National Bank - Buhl, this Kimberly, Idaho business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: PRIMARY METAL PRODUCTS
KIMBERLY, ID 83341

SBA Loan Lender

FARMERS NATIONAL BANK - BUHL
914 MAIN ST
BUHL, ID 83316

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3399 - Primary Metal Products

Loan Approval Date

7/11/2000

Loan Approval Gross Amount

$55,400

Loan Approval from the SBA

Of the total $55,400 loan amount, the SBA guaranteed $44,320.

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 4 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Farmers National Bank - Buhl had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Farmers National Bank - Buhl made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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