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May 3, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Spokane, Business Loans > Inland Northwest Bank Spokane Business Loans > Iron Foundries Loan | ||||
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Requirements for Small Business Owners On Getting a Loan
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Getting an SBA Loan for Iron FoundriesWith these SBA loans for iron foundries, the SBA guarantees the lender that the loan will be repaid. This iron foundries loan for $54,000 was given to an Idaho entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hayden, Idaho was able to borrow $54,000 from Inland Northwest Bank. The SBA made the loan possible by guaranteeing $40,500 of this Idaho small business loan. SBA Loan Borrower COMPANY TYPE: IRON FOUNDRIES SBA Loan Lender INLAND NORTHWEST BANK This lender issued this small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 331511 - Iron Foundries Loan Approval Date 10/19/2007 Loan Approval Gross Amount $54,000 Loan Approval from the SBA Of the total $54,000 loan amount, the SBA guaranteed $40,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Role of Business Plan When Raising Money Where to Get an SBA Loan in Spokane, Washington
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