Idaho small business lenders help fund growth and build success for business owners.
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Biglaw Investor connects you with small business lenders who can help you expand your business, whether through working capital or via acquisition. A small business loan loan is a great way to grow your business—but it can be hard to know where to start. Our small business lenders offer an experience specially tailored to your goals.
Offered exclusively through Biglaw Investor, we make it incredibly simple to find the best loan for your business needs.
I’m an associate at a firm in Houston and used JD Mortgage thanks to your advice! The experience was great—they were super fast and responsive.” —Mary Kate Raffetto Beck Redden LLP
For a JD Mortgage, I had good luck with IBERIABank. [They] made this process very smooth.” —Clint Cowan Lynn Pinker Hurst & Schwegmann
Fundera has access to SBA Loan programs that are partially guaranteed by the U.S. Small Business Administration.
With low interest rates, long repayment terms, and high borrowing limits, get the capital for nearly any business purpose with an SBA loan via Fundera.
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Idaho is located in the Pacific Northwest region of the country and is a stunning state with open fields, beautiful parks, and a growing population. The state is home to 1.8 million people, which makes it one of the smallest in terms of population as well as the density of that population. Boise, the largest city, is also the capital. It’s quite diverse with various environmental regions, from the Snake River Plain, where there’s a significant amount of agricultural areas, to the Rocky Mountains, which offer some of the best hikes and views in the region. Idaho may not be a large state in terms of population, but it has much to offer the many businesses located here.
One of Idaho’s many benefits is that it has an ample amount of agricultural development. There is also a strong forestry and mining industry present. That, along with manufacturing, makes up the largest component of the state’s economy, with numerous large corporations and international companies calling it home.
Yet, small businesses play a valuable role in the state as well. The U.S. Small Business Administration states there are 183,972 small businesses operating in the state. Those businesses provide jobs for 347,193, contributing $13,059,266 to the livelihood of residents today. These companies span widely throughout the state, from local artisan shops and contractors to restaurants, service providers, and much more.
To keep those businesses operational, it is critical for companies to have the financial means to do so. That is where small business lenders in Idaho come into the picture. The latest three years of data from the U.S. Small Business Administration shows that there are 1,487 active small business loans in the state with a total loan volume of $872,250,838. The average size loan for these companies is $586,584 in Idaho. That’s an impressive amount of funding to help support the growth and development of the companies that help support such a large number of the state’s families and households.
A small business is one that typically has fewer than 100 people working within it, though there’s some variation of this. A small business loan is capital that lenders provide to those businesses that qualify for it so they can use those funds for business-related needs. This could include things like expanding the company, adding more equipment, or meeting payroll needs. Small business loan lenders in Idaho provide these funds with the expectation that the borrower will repay them with interest in a timely matter, often within 5 to 10 years, though again, there are some flexible options out there in this area.
Usually, a start-up company is founded with personal funds or credit cards, but as a company grows, the organization might need more financial support. Entrepreneurs may turn to small business loans in Idaho to help fund the next phase of growth. There are many loan options available, each with their own application process. If you need assistance with cash flow, business financing any a number of lending institutions or lending programs can help close the gap. Whether you need short-term support, are more concerned getting a low interest rate, or have other business needs, working with someone on a loan is a great way to help get your business to the next level in the gem state.
Idaho small business lenders come in all forms. They typically set their own rules and qualifications for small businesses to meet before they can lend to them. Most often, this means ensuring the company has the financial means to repay the loan. To determine this insight, the company may request a great deal of information about the small business, including information about its monthly revenue, the industry, its overall financial health, and a wide range of other details. One of the best ways to show this insight is through a well-designed business plan.
The creditworthiness of the company is a big factor in the determination of whether the lender will offer a loan to the company. If the company does not have a strong credit history just yet, the lender will use the business owner’s information. You can look at financial institutions directly or contact the Idaho Small Business Development Center for more information about specifics.
Once the company seems to be a viable risk for the lender, there’s the consideration of the type of loan that may be best suited for their needs. Some loans provide a one-time payment, while others are a line of credit. Some are much more affordable than others, too. Some examples of the types of loans you can expect to find in Idaho include:
Small business lenders in Idaho work with many companies to provide them with affordable, accessible capital needed to grow and expand. It is critical for companies to have access to this capital, from lenders that are noted for their ability to meet these needs.
| Rank | Bank Name | # of Idaho Loans | Avergage Interest Rate | Average Loan Size |
|---|---|---|---|---|
| 1 | Glacier Bank | 39 | 4.95% | $349,459 |
| 2 | Zions Bank | 38 | 5.18% | $224,421 |
| 3 | Bank of Idaho | 37 | 5.36% | $852,538 |
| 4 | Idaho Central Credit Union | 36 | 5.19% | $646,372 |
| 5 | U.S. Bank | 35 | 5.78% | $308,894 |
| 6 | Columbia State Bank | 26 | 5.70% | $233,627 |
| 7 | Wells Fargo Bank | 17 | 7.40% | $254,782 |
| 8 | D. L. Evans Bank | 16 | 5.10% | $178,813 |
| 9 | Idaho First Bank | 14 | 5.49% | $730,892 |
| 10 | KeyBank | 14 | 5.68% | $208,829 |
Opening in Kalispell, Montana, 65 years ago, Glacier Bank has grown from an original staff of two in 1955 as First Federal Savings and Loan to now having 16 branches. Glacier Bank is located in five counties in Montana and is able to provide all banking services, including business loans.
We reached out to Glacier Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Zions Bank, headquartered in Salt Lake City, Utah, has been providing banking services since 1873. Now with 122 locations in Utah, Idaho, and Wyoming, Zions Bank is able to meet all customers’ banking needs for personal and business accounts, including small business loans and checking and savings accounts.
We reached out to Zions Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Operating 19 locations in Idaho and eastern Washington, the Bank of Idaho provides a number of options for its customers to meet all of their banking needs. Products available through the Bank of Idaho include small business loans, wealth management, home loans, and business and personal bank accounts.
We reached out to Bank of Idaho to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Chartered in June 1940, Idaho Central Credit Union began to serve the people of Boise, Idaho, to meet their financial needs. No serving communities in Idaho, Washington, and Oregon, Idaho Central Credit Union offers a number of products to meet customers’ needs, including small business loans and personal banking.
We reached out to Idaho Central Credit Union to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
First coming into existence in 1863 as the First National Bank of Cincinnati, U.S. Bank now operates in 26 states across the country. U.S. Bank offers a number of products and services to meet customers’ needs, including small business loans and personal banking solutions, including checking and savings.
We reached out to U.S. Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Building a financially sound company takes more than just having access to money. That is why it is critical for small businesses to have access to valuable resources that can help them. These resources include services like the Small Business Administration of Idaho. The organization has offices locally you can visit, but it also offers a comprehensive website packed with information on establishing, growing, transitioning, and expanding companies. This includes information about building business credit, tax support, and financial decision making.
Another resource that is incredibly valuable to many small businesses is SCORE. It has a local office in Idaho Falls as well as a comprehensive website packed with information and support tools. This site includes webinars, tutorials, and guides, many of which were created and provided by successful business professionals in a range of industries. The value here is exceptional, and what is even better than that is that all of this information and support is available without any cost to you as an Idaho small business owner.
If you want to find the best small business loans in other states, click on your state below.
Joshua Holt is a lawyer and founder of Biglaw Investor. He spent 10 years practicing private equity mergers & acquisition law for one of the largest law firms in the country. As part of his practice, he advised small and medium sized businesses on matters ranging from business loans to the acquisitions and divestitures of stocks and assets.
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