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May 17, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Twin Falls, Business Loans > Magic Valley Bank A Division - Twin Falls Business Loans > Retail Bakeries Loan | ||||
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ID SBA Loan from Magic Valley Bank A Division -
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Magic Valley Bank A Division - SBA Loan to Retail Bakeries CompanyMagic Valley Bank A Division - has a track record as a leading provider of SBA loans. Find out how this Idaho entrepreneur received an SBA loan from them. This business knew how to go about getting a business bank loan. Based in Twin Falls, Idaho, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Magic Valley Bank A Division -, based in Twin Falls, Idaho. SBA Loan Borrower COMPANY TYPE: RETAIL BAKERIES SBA Loan Lender MAGIC VALLEY BANK A DIVISION - This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 311811 - Retail Bakeries Loan Approval Date 12/4/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We can help you find the best banks for small businesses in Twin Falls or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Banking Deregulation's Effects on Entrepreneurship Who Lends Money to Small Businesses in Twin Falls, Idaho
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