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May 16, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Coeur D'Alene, Business Loans > Idaho Independent Bank Coeur D'Alene Business Loans > Construction And Mining Machinery And Equipment Merchant Loan | ||||
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Coeur D'Alene Lenders
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Entrepreneur Works With Coeur D'Alene, Idaho Bank to Get an SBA LoanThinking about meeting with a Coeur D'Alene, Idaho bank about a small business loan? Here's one Idaho business loan, issued by a Coeur D'Alene bank, that was approved by the SBA. Applying for an SBA loan with Idaho Independent Bank worked out well for our friends at one local business in Coeur D Alene, Idaho. They got an SBA loan for $124,000. Nice! SBA Loan Borrower COMPANY TYPE: CONSTRUCTION AND MINING MACHINERY AND EQUIPMENT MERCHANT SBA Loan Lender IDAHO INDEPENDENT BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423810 - Construction and Mining Machinery and Equipment Merchant Loan Approval Date 3/21/2005 Loan Approval Gross Amount $124,000 Loan Approval from the SBA Of the total $124,000 loan amount, the SBA guaranteed $105,400. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Idaho Independent Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Idaho Independent Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: The Friends and Family Network Good Banks for Small Business in Coeur D'Alene, Idaho Browse All Business Loan Sources for Idaho
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