Mountain West Bank SBA Loan to General Warehousing And Storage Company

An SBA loan from Mountain West Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Meridian, Idaho business owner got a $150,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Meridian, Idaho, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Mountain West Bank, based in Meridian, Idaho.

SBA Loan Borrower

COMPANY TYPE: GENERAL WAREHOUSING AND STORAGE
MERIDIAN, ID 83642

SBA Loan Lender

MOUNTAIN WEST BANK
2970 E ST LUKES DR
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

493110 - General Warehousing and Storage

Loan Approval Date

10/22/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

SBIR Funding

Small Business Banks in Meridian, Idaho

SBA Participating Banks in Idaho