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May 4, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Spokane, Business Loans > Washington Trust Bank Spokane Business Loans > Pen And Mechanical Pencil Manufacturing Loan | ||||
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Raising Money in Kuna, Idaho With SBA Loans
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Kuna, Idaho Entrepreneur Gets a Small Business LoanIdahoBank loans are available to Idaho firms through the SBA. In this case, a Washington bank provides the loan. This company, based in Kuna, 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 Washington Trust Bank. We've got the inside scoop on this Idaho small business loan. SBA Loan Borrower COMPANY TYPE: PEN AND MECHANICAL PENCIL MANUFACTURING SBA Loan Lender WASHINGTON TRUST BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA 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. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 339941 - Pen and Mechanical Pencil Manufacturing Loan Approval Date 3/11/2004 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 only one employee. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Washington Trust Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Washington Trust Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Find an SBA Lender in Spokane, Washington
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