Boise District SBA Loans Top $150 Million
Boise, Idaho – The Boise District Office of the U.S. Small Business Administration continues to guarantee loans to small businesses as demonstrated by a 2012 fiscal year end report. In support of the recovering economy, the Boise office produced 385 loans valued at $154 million for the year ending September 30.
Under its flagship 7(a) loan program, the Boise District Office guaranteed 300 loans valued at nearly $72 million. Boise District Office loans made through the SBA 504 program in 2012 totaled 85 loans worth over $82 million. The SBA estimates that 2,957 jobs were created or retained in the Boise District as a result of these loans.
“This is the third year in a row that SBA-backed lending has increased,” SBA Boise District Director Norm Proctor said. “The momentum of the economic recovery demonstrates the renewed confidence of both small businesses and the lending community.”
“Our focus at SBA is to help small businesses start, grow and succeed. Access to capital is the life blood of small businesses especially in these difficult economic times,” said SBA Regional Administrator Calvin Goings. “The Boise District Office should be the first stop for a small businesses looking to borrow money. Our staff excels at guiding small businesses on their road to success.”
In fiscal year 2012, thirty nine different financial institutions partnered with the SBA to provide capital to small businesses through the 7(a) program. For the tenth straight year Zions Bank has been the top SBA leader in the Boise District accounting for 89 loans valued at $9.2 million. Other active lenders included D.L. Evans Bank (29 loans), Glacier Bank (29 loans), U.S. Bank (26 loans) and Banner Bank (21 loans). And, in 2012, the SBA Boise Office partnered with 6 Certified Development Companies to provide 504 financing led again by Capital Matrix (50 loans).