Business Loan from Sterling Savings Bank Given to Motor Vehicle Supplies And New Parts Merchant Wholesalers Company

An SBA loan from Sterling Savings Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Athol, Idaho business owner got a $150,000 loan.

Getting a small business loan in Athol, Idaho was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Sterling Savings Bank, operating out of Spokane, Washington. Here are the details on this Idaho small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS MERCHANT WHOLESALERS
ATHOL, ID 83801

SBA Loan Lender

STERLING SAVINGS BANK
111 N WALL ST, MAIL STOP #952
SPOKANE, WA 99201

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

423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers

Loan Approval Date

6/8/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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