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November 15, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Twin Falls, Business Loans > Magic Valley Bank A Division - Twin Falls Business Loans > Furniture Stores Loan | ||||
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Twin Falls SBA Loans
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Firm Gets an Idaho Bank LoanWant an Idaho small business loan? This Idaho entrepreneur got a small business loan, provided by an Idaho bank that works with the SBA to help small business owners. This business, based in Twin Falls, Idaho, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Magic Valley Bank A Division -. We've got the inside scoop on this Idaho small business loan. SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender MAGIC VALLEY BANK A DIVISION - This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . 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 442110 - Furniture Stores Loan Approval Date 8/23/2001 Loan Approval Gross Amount $37,000 Loan Approval from the SBA Of the total $37,000 loan amount, the SBA guaranteed $31,450. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Magic Valley Bank A Division - 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: SBA 7A Banks for Twin Falls, Idaho Loans
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