Where to Get Capital for Specialty Food Stores

With these small business loans for specialty food stores, the SBA guarantees the lender that the loan will be repaid. This specialty food stores loan for $31,000 was given to an Idaho entrepreneur in 2002.

Getting a small business loan in Twin Falls, Idaho was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Magic Valley Bank A Division -, operating out of Twin Falls, Idaho. Here are the details on this Idaho small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
TWIN FALLS, ID 83301

SBA Loan Lender

MAGIC VALLEY BANK A DIVISION -
113 MAIN AVE WEST
TWIN FALLS, ID 83301

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

445299 - Specialty Food Stores

Loan Approval Date

4/26/2002

Loan Approval Gross Amount

$31,000

Loan Approval from the SBA

Of the total $31,000 loan amount, the SBA guaranteed $26,350.

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 add employees or retain any existing employees.

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

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.

We can help you find the best banks for small businesses in Twin Falls or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Getting a Small Business Loan

Good Banks for Small Business in Twin Falls, Idaho

SBA Lenders in Idaho