Business Loan from Syringa Bank Given to Full-Service Restaurants Company

Syringa Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Idaho entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Meridian, Idaho was able to borrow $51,500 from Syringa Bank. The SBA made the loan possible by guaranteeing $43,775 of this Idaho small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MERIDIAN, ID 83642

SBA Loan Lender

SYRINGA BANK
3671 E FAIRVIEW AVE
MERIDIAN, ID 83642

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

722110 - Full-Service Restaurants

Loan Approval Date

3/27/2002

Loan Approval Gross Amount

$51,500

Loan Approval from the SBA

Of the total $51,500 loan amount, the SBA guaranteed $43,775.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Meridian ID, you ought to talk with a local Meridian SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Meridian businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Syringa Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Microlending as a Small Business Funding Source

SBA 7A Lenders in Meridian, Idaho

Where to Get an SBA Loan Idaho