Loan Census Banking News and Information
January 19, 2020  
  Business Loan Information  

Island Park, Idaho Small Business Loans

Loan Census SBA Loan Info

Raising money in Island Park, Idaho? If so, you'll want to talk to some of these small business lenders in Island Park.

If you are looking for a small business loan and your business is based in Island Park, Idaho, we've assembled a list of local small business banks that you should contact.

Local Island Park Lending Resources

To assist you in finding a small business banker, here's our list of small business banks in Island Park.

Small Business Bank Recent SBA Loans
Bank of Idaho - Island Park  

SBA Lenders for Island Park Businesses

This is a list of banks outside of Island Park, Idaho that have provided SBA loans to Island Park businesses. Some of these may be national banks with local branch locations.

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
Zions First National Bank
Salt Lake City, UT
Zions First National Bank
West Valley City, UT

Island Park Bank Loan Tips

As a prerequisite to reaching out to banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly explain your business, explain how much you want to borrow, define how the money will be used, and show your ability to pay the loan back to the bank.

Having a business plan is is critically important. If the financing is to for a company that is already doing business, you should also have financial statements covering the last three years. Bankers will also want to know what collateral you have available to guarantee the loan. Collateral is relevant because banks always want to be prepared for a worst-case scenario in which you cannot repay the loan.

If the business has few assets, the bank may ask you to to to guarantee the loan with your personal assets, such as stocks and bonds that you might own or life insurance policies. The banks will check on your personal credit history in any case, so hopefully you have good credit history -- you may want to get a copy of your credit history prior to meeting with the banker.

Many of these banks participate in the financial assistance programs available through the SBA. Before meeting with the banker, you may want to get up to speed on SBA loans programs to see if you qualify. SBA 7(a) loans, SBA 504 loans and SBA disaster assistance loans may be available to you. Advice on Raising Money

Our site is deeply committed to helping entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, one article that might be of interest to you is 504 Loans.

Business Loan Sources for Other Cities in Idaho
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