Idaho Bank Loan Issued to Snack Food Manufacturing Company

Business loans in Idaho are are few and far betweeen these days. We take a look at one Idaho business loan, provided by an Idaho bank, that was approved by the SBA.

Getting a small business loan in Pocatello, Idaho was a top priority for this SBA-financed company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Citizens Community Bank. Here are the details on this Idaho small business loan.

SBA Loan Borrower

COMPANY TYPE: SNACK FOOD MANUFACTURING
POCATELLO, ID 83202

SBA Loan Lender

CITIZENS COMMUNITY BANK
280 S ARTHUR
POCATELLO, ID 83204

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311919 - Snack Food Manufacturing

Loan Approval Date

1/24/2003

Loan Approval Gross Amount

$98,500

Loan Approval from the SBA

Of the total $98,500 loan amount, the SBA guaranteed $83,725.

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 5 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Citizens Community Bank and they will explain how you can get an SBA loan for your company.

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:

Advice on Getting a Small Business Loan

Small Business Banks in Pocatello, Idaho

Idaho SBA 7A Banks