The process begins with the borrower having a clear plan. We can finance business expansion with a loan for working capital, equipment purchase, real estate or inventory. We also finance start-ups. A commercial lender is often a partner in the loan.
You will need a solid business plan that includes a detailed list of sources and uses of the loan dollars and marketing strategy. There is a loan application process that requires business and personal financial information and three year projections. We require at least a 10% equity participation, collateral equal to one dollar collateral for one dollar of loan. Our loan board reviews the loan applications and makes a determination at that meeting.
We do not finance existing debt.
Idaho Department of Commerce: Building Your Business– commerce.idaho.gov/business
Idaho Small Business Development Center— www.idahosbdc.org
Phone: 208-233-4032 / 800-526-8129
Monday – Friday 8:00 a.m. – 5:00 p.m.
214 E Center Street Suite 10
Pocatello, ID 83201