In this time of change, one thing hasn’t:
Our commitment to your business.
Small Business Loans for Brave Business Owners
Running a business takes courage. We understand the chances you’re taking to build something, which is why we take the time to understand you and your business. By knowing what you want – and where you want to go – we can support you with the best advice and guidance throughout the entire SBA process.
VOTED BEST BANK
IN THE STATE OF IDAHO
committed to you.
“Getting an SBA loan can be difficult. The Bank of Idaho team made it simple. They answered every question, even the ones I didn’t know to ask.”
Blaze Pizza | Boise, ID
Covid-19 has impacted nearly every business in the country. While the pandemic has seemingly changed everything, our commitment to small businesses remains unwavering. We’re still the bank where people bank with people (even if that means virtually, these days).
That means we take the time to understand you, your business and your goals. By knowing where you want to go, we can support you with the best advice and guidance throughout the entire SBA process.
Find the Loan That’s Best for You.
The chart below quickly outlines the differences between the main SBA loans. If you need help determining which one is best for you and your business, contact your local business loan expert.
In addition to the SBA loan options below, as part of the recent stimulus package, the additional opportunities may be available:
- 7(a) loan guarantees increased to 90% through Sept. 30th, 2021
- SBA payments are considered non-taxable income, which shall apply both retroactively to any payment made to any borrower.
- Waives borrower fees for both the 7(a) and Express loan programs through September 30, 2021.
- Guarantees are increases to 90% the loan on 7(a) loans, including for Community Advantage loans, through September 30, 2021.
- Loan amounts increased for Express Loans/Lines from $350,000 to $1 million for the period January 1, 2021 through September 30, 2021, with that amount reverting, on a permanent basis to $500,000 beginning October 1, 2021.
- From the date of enactment through September 30, 2021, temporarily increases from 50% to 75% the Express Loan/Line guaranty percentage for loans of $350,000 and less. The guarantee percentage remains at 50% for SBA Express loans over $350,000. On October 1, 2021, the guarantee reverts to 50% for all Express Loans.
|Loan Type||Key Benefits||Best For|
SBA Express Loan
Provide loans to business for start-up or growth needs. Uses of funds include working capital, equipment, inventory, and property improvements. Loan funds can be structured as a Line of Credit or as a Term Loan with fixed or variable rates depending on the loan purpose.
CDC/SBA 504 Loan
Provides SBA loans to small businesses looking to purchase or build owner-occupied commercial real estate.
SBA 7(a) Business Loan
Most popular SBA loan. Can be used for almost any business purpose. Popular due to their long repayment terms and low interest rates.
SBA CAPLines Loan
Offers four SBA loan or line of credit products that are designed to help businesses meet their short-term and cyclical working capital needs.
We remain committed to you.
"We were also really pleased with the way the whole loan process worked. You have earned our business! We’ll be telling all of our friends about you."
Jason and Kerri Allen | Artistic Tile & Granite