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Boise District SBA Loans Top $147 Million Supporting Small Business Growth
Boise, Idaho – The Boise District Office of the U.S. Small Business Administration continues to guarantee loans to small businesses, as demonstrated by a 2013 fiscal year end report. In support of the recovering economy, the Boise office produced 394 loans valued at $147 million for the year ending September 30.
Under its flagship 7(a) loan program, the Boise District Office guaranteed 317 loans valued at nearly $76 million. In addition, the Boise District Office, through the SBA 504 program, supported 77 projects worth over $71 million. The SBA estimates that 3,019 jobs were created or retained in the Boise District, as a result of these loans.
“We play a vital role in enabling small businesses to get the capital they need to start and grow their businesses, create jobs and build their communities,” said SBA Boise District Director Rodney Grzadzieleski. “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,” 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 2013, thirty five different financial institutions partnered with the SBA to provide capital to small businesses through the 7(a) program. For the eleventh straight year Zions Bank has been the top SBA leader in the Boise District accounting for 96 loans valued at $11.8 million. Other active lenders included Glacier Bank (35 loans), Wells Fargo Bank (31 loans), and D.L. Evans Bank (29 loans). And, in 2013, the SBA Boise Office partnered with 5 Certified Development Companies to provide 504 financing led again by Capital Matrix (39 loans).