Idaho Independent Bank SBA Loan to Brick, Stone, And Related Construction Materials Company

Idaho Independent 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.

Getting a small business loan in Nampa, Idaho was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Idaho Independent Bank, operating out of Boise, Idaho. Here are the details on this Idaho small business loan.

SBA Loan Borrower

COMPANY TYPE: BRICK, STONE, AND RELATED CONSTRUCTION MATERIALS
NAMPA, ID 83687

SBA Loan Lender

IDAHO INDEPENDENT BANK
317 N 9TH
BOISE, ID 83702

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5032 - Brick, Stone, and Related Construction Materials

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

11/14/2003

Loan Approval Gross Amount

$678,600

Loan Approval from the SBA

Of the total $678,600 loan amount, the SBA guaranteed $508,950.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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.

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