Nampa, Idaho Business Gets SBA-Guaranteed Funding from Keybank National Association

An SBA loan from Keybank National Association typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Nampa, Idaho business owner got a $100,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Keybank National Association, out of Cleveland, Ohio. The loan was granted and they received $100,000 to help grow their Nampa, Idaho business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
Nampa, ID 83687

SBA Loan Lender

KEYBANK NATIONAL ASSOCIATION
127 PUBLIC SQ
CLEVELAND, OH 44114

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

3/31/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

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

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:

Understanding Dilution

Banks in Cleveland, Ohio

Getting an SBA Loan in Ohio