Idaho Banking Company - The Art of Banking
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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
Maximum 504 Loan Amount: Up to $5,500,000
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)
Maximum 7(a) Loan Amount: Up to $5,000,000
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.

 

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