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November 15, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Boise, Business Loans > Bank Of The Cascades Boise Business Loans > Construction Material Merchant Wholesalers Loan | ||||
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SBA Lender Meridian
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Bank Of The Cascades SBA Loan to Construction Material Merchant Wholesalers CompanyBank Of The Cascades has a track record as a leading provider of SBA loans. Find out how this Idaho entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Meridian, Idaho was able to borrow $60,000 from Bank Of The Cascades. The SBA made the loan possible by guaranteeing $51,000 of this Idaho small business loan. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION MATERIAL MERCHANT WHOLESALERS SBA Loan Lender BANK OF THE CASCADES 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. NAICS Code 423390 - Construction Material Merchant Wholesalers Loan Approval Date 3/4/2004 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. 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 only one employee. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! 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. 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: Obtaining Funding From a Venture Capitalist Where to Get an SBA Loan in Boise, Idaho
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