Panhandle State Bank Gives SBA Loan to Sawmills Company

IdahoSBA loans are available to Idaho entrepreneurs through the SBA. In this case, an Idaho bank provides the loan.

This small business, based in Bonners Ferry, 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 Panhandle State Bank. We've got the inside scoop on this Idaho small business loan.

SBA Loan Borrower

COMPANY TYPE: SAWMILLS
BONNERS FERRY, ID 83805

SBA Loan Lender

PANHANDLE STATE BANK
200 W NEIDER AVE
COEUR D'ALENE, ID 83814

When it made this small business loan, the lender was part of the SBA's Certified Lenders Program (CLP). This program was created to offer speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

321113 - Sawmills

Loan Approval Date

12/11/2006

Loan Approval Gross Amount

$205,000

Loan Approval from the SBA

Of the total $205,000 loan amount, the SBA guaranteed $153,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Startup Funding Tip

SBA Participating Banks in Coeur D'Alene, Idaho

SBA Idaho Banks