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May 11, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Boise, Business Loans > D. L. Evans Bank Boise Business Loans > Professional Equipment And Supplies Merchant Wholesalers Loan | ||||
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How to Get a Small Business Loan from D. L. Evans Bank
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Business Loan from D. L. Evans Bank Given to Professional Equipment And Supplies Merchant Wholesalers CompanyD. L. Evans Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Idaho entrepreneur who tapped into the power of SBA loans. This small firm knew how to go about getting a business bank loan. Based in Star, Idaho, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was D. L. Evans Bank, based in Boise, Idaho. SBA Loan Borrower COMPANY TYPE: PROFESSIONAL EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender D. L. EVANS BANK This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423490 - Professional Equipment and Supplies Merchant Wholesalers Loan Approval Date 12/1/2003 Loan Approval Gross Amount $26,500 Loan Approval from the SBA Of the total $26,500 loan amount, the SBA guaranteed $22,525. 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. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
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