Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Smelterville, Idaho Small Business Loans

 
Loan Census SBA Loan Info

Getting a business loan in Smelterville, Idaho seems challenging at first, but we're here to help you get started.

If you are hoping to get a small business loan and your business is based in Smelterville, Idaho, we've put together a list of local small business banks that you should contact.

Lenders for Smelterville Businesses

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

Small Business Bank Recent SBA Loans
Sterling Savings Bank
Clarkston, WA
1
Sterling Savings Bank
Coeur D'alene, ID
1

Smelterville Bank Loan Tips

Prior to meeting with lenders for a loan, you will need to have a specific plan.

You need to be able to clearly explain your business, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you intend to to pay the loan back to the lender.

Being able to present a well-written business plan is is critically important. If the capital 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 secure 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, you will likely be asked to pledge your personal assets, such as the equity in your home. The banks will look at your personal credit report 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 the banks in our list participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business banker, you may want to read up on 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.

Gaebler.com Advice on Raising Money

Take the time to learn as much as you can about Raising Money. To get started, we recommend you read Bank Credit Lines.

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