Bank Of Idaho Gives SBA Loan to Vending Machine Operators Company

Business loans in Idaho are tough to come by these days. We take a look at one Idaho business loan, provided by an Idaho bank, that was approved by the SBA.

You can learn something about getting a small business loan in Rigby, Idaho by studying this loan to a local business, made back in 2004. Banks like Bank Of Idaho may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: VENDING MACHINE OPERATORS
RIGBY, ID 83442

SBA Loan Lender

BANK OF IDAHO
399 N CAPITAL AVE
IDAHO FALLS, ID 83402

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454210 - Vending Machine Operators

Loan Approval Date

5/3/2004

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

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 did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Business Incubators

SBA Participating Banks in Idaho Falls, Idaho

Where to Get an SBA Loan Idaho