Boise is the capital and most populous city of the U.S. state of Idaho, as well as the county seat of Ada County. On the Boise River in southwestern Idaho, it is 41 miles (66 km) east of the Oregon border and 110 miles (177 km) north of the Nevada border. The 2019 estimated population of Boise was 228,790, making it the third-largest city in the Northwest United States. As of the 2010 census, the Boise City–Nampa metropolitan area had 616,561 inhabitants, the most populous metropolitan area in Idaho. It is also the 104th-largest metropolitan area in the United States.
Boise is the home of the Albertsons Companies headquarters, as well as the site of five major corporations: Boise Cascade, Micron Technology, HP, Inc., Clearwater Analytics, and Idaho Central Credit Union. With a strong economy driven by these and other businesses, as well as a low cost of living, Boise is consistently ranked as one of the best places to live in the United States. In 2019, it was ranked as the third-best city in the nation for small businesses by WalletHub.
There are a number of reasons why Boise is such a great place for small businesses. First, the cost of doing business is relatively low. Second, the city has a highly educated workforce. In fact, Boise State University is one of the largest employers in the city. Third, there is a strong culture of entrepreneurship and innovation. Finally, the city has a great quality of life, which makes it attractive to workers and businesses alike.
Comparing SBA loan types in Boise
Three SBA programs come up most often for Boise, Idaho businesses, and they do different jobs.
Small business loans available in Boise
An SBA 7(a) loan made to a Boise, Idaho business is made by a participating lender, not by the SBA. The lender underwrites it, sets the rate within the SBA maximum, and services it. What varies locally is which lenders are active, not the program rules.
Common uses here are the same as everywhere: working capital, equipment, owner-occupied commercial real estate, refinancing business debt, and buying an existing business.
Insurance and closing
Most SBA lenders require hazard and, where the collateral is real property, property insurance in place before closing. See commercial property insurance for businesses and ways to ensure your SBA loan closes smoothly.
Getting started in Boise
Check the eligibility requirements, run the numbers with the SBA 7(a) loan calculator, then get financing and we will route your inquiry to lending partners.