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May 9, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Boise, Business Loans > Washington Trust Bank Boise Business Loans > Millwork Loan | ||||
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Getting an SBA 7A Loan in Meridian, Idaho
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Idaho Bank Loan Issued to Millwork CompanyIdahoSmall business loans are available to Idaho small business owners through the SBA. In this case, an Idaho bank provides the loan. This business, based in Meridian, 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 Washington Trust Bank. We've got the inside scoop on this Idaho small business loan. SBA Loan Borrower COMPANY TYPE: MILLWORK SBA Loan Lender WASHINGTON TRUST BANK This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2431 - Millwork NAICS Code 321911 - Wood Window and Door Manufacturing Loan Approval Date 3/28/2002 Loan Approval Gross Amount $1,200,000 Loan Approval from the SBA Of the total $1,200,000 loan amount, the SBA guaranteed $900,000. 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 25 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Obtaining Funding From a Venture Capitalist Small Bank Loans in Boise, Idaho Where to Get an SBA Loan Idaho
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