SBA
Loans
We
offer two types of SBA loans.
SBA
504 loans:
The SBA 504 loan is designed to finance the acquisition of fixed
assets for an existing business. Fixed assets include equipment
and buildings used in the operation of your business.
SBA
7(a) loans:
This type of SBA loan is generally used for new businesses to
help acquire working capital, fixed assets, inventory and other
important purchases.
Which
SBA loan is right for my business?
SBA
504 Loans
SBA
504 loans are ideal for existing businesses with positive financial
trends and promising growth potential. Your business may qualify
for a low down payment if your future plans include employment
expansion or retention and community development. The experienced
bankers at Idaho Banking Company can explain the details of this
program and make this process easy for you.
Some
benefits of SBA 504 loans are:
- Simple
application process
- Low
down payment
- Low
fixed interest rates for up to 20 years on the SBA loan portion
- Up
to 90% financing for qualifying businesses (with up to 50% of
the project financed by the bank and 40% by the Small Business
Administration)
Proceeds
of the loan can be used for:
- Purchase,
construction or renovation of owner occupied building
- Purchase
of equipment for business expansion
- Expand
or modernize facilities
| Loan
Size: |
Up
to $3,000,000 |
| Term: |
Up
to 25 years |
| Rate: |
Low
fixed rate available |
| Fee: |
Based
on loan amount and closing costs |
If
you are interested in learning more about this or any other Idaho
Banking Company loan product or service, please visit with one
of our lenders. Check the Locations Page for a listing of branch
locations and contacts.
SBA
7(a) Loans
SBA
7(a) guarantee loans are available for businesses that need to:
- Increase
cash flow through extended repayment terms
- Minimize
the down payment
- Acquire
another business
- Expand
or modernize facilities
- Purchase
machinery, equipment, fixtures, or inventory
- Purchase
or construct commercial buildings (owner occupied)
| Loan
Size: |
Up
to $1,750,000 |
| Term: |
Up to
25 years (if secured by commercial real estate); Up to 10
years if secured by equipment |
| Rate: |
Variable
rate based on prime rate |
| Fee: |
Amount
is based on guaranteed portion of the loan (paid directly
to SBA) and closing costs |
If
you are interested in learning more about this or any other Idaho
Banking Company loan product or service, please visit with one
of our lenders. Check the Locations Page for a listing of branch
locations and contacts.
|
