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May 15, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Coeur D'Alene, Business Loans > Inland Northwest Bank Coeur D'Alene Business Loans > Sporting And Recreational Goods And Supplies Wholesalers Loan | ||||
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Coeur D'Alene, Idaho Bank for SBA Loans
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Company Gets an Idaho Business LoanWant an Idaho SBA loan? This Idaho entrepreneur got an SBA loan, provided by an Idaho bank that works with the SBA to help small business owners. By giving the right information to Inland Northwest Bank, this Coeur D'Alene, Idaho business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES WHOLESALERS SBA Loan Lender INLAND NORTHWEST BANK This small business loan was provided by financing institution with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421910 - Sporting and Recreational Goods and Supplies Wholesalers Loan Approval Date 9/18/2003 Loan Approval Gross Amount $197,000 Loan Approval from the SBA Of the total $197,000 loan amount, the SBA guaranteed $147,750. 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 7 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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: Determining Proper Capital Structure for a Business Small Bank Loans in Coeur D'Alene, Idaho
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