Idaho Prime Loan Program

The Idaho Prime Loan Program "The Idaho Prime" is a loan program designed specifically with small businesses in mind. This innovative program is a cooperative effort between the Idaho State Treasurer, the Small Business Administration "SBA", and the banking community – helping to make capital available to all small businesses throughout our great state.

When small businesses do well in Idaho, new jobs are generated for our workforce, the economy expands, new tax dollars flow in the state coffers, and we all benefit.

Borrower Information

  • To start a new business
  • To expand or modernize facilities
  • To purchase equipment, fixtures, and leasehold improvements
  • To increase inventory and working capital
  • To acquire new or existing businesses or franchises
  • To refinance existing debt, under certain conditions
  • To construct or purchase commercial buildings
  • Loans up to $750,000
  • Prime interest rate – reset every calendar quarter
  • 25 years maximum maturity
  • Independently owned and operated businesses
  • Businesses that operate for profit
  • Businesses whose annual revenues are less than $6,000,000 or whose number of employees are less than 100
  • Management ability and experience in the industry
  • Adequate investment (approx. 25% - 30%) by the owner, partners, or corporate officers
  • Ability to repay the loan from historical or projected cash flow and profits
  • Satisfactory personal and business credit history
  • The Idaho State Treasurer's Office is not involved in the approval process
  • Please contact a participating bank
  • Any bank that offers SBA Loans is eligible to participate in the program
  • Statement detailing the purpose of the loan and expected use of the proceeds
  • Business Plan
  • Summary of owner's investment in the business
  • Description of proposed collateral
  • Projections of income, expenses and cash flow
  • Current, signed, personal federal tax returns
  • Three years personal federal tax returns
  • Personal resumes on management
  • Copies of articles of Incorporation and By-Laws, Partnership Agreement, or Franchise Agreement and FTC Disclosure Statement, as appropriate
  • If you are already doing business, include the following:
    • History of the business
    • Business financial statements for last three years plus interim period dated within 90 days (balance sheet and income statements with footnotes)
    • Three years of business tax returns
    • Schedule of all business debt
    • Detailed aging of accounts receivable and payable
    • Lease Agreement (if applicable)

Lender Information

  • The SBA guarantees up to 90% of loans made by any participating bank.
  • Your bank forwards application and deals directly with SBA officers
  • Qualifies for Community Credit
  • Creates added loan capacity
  • Prime + 11.925% approximate annual return on prime rate loans
  • After full disbursement, mail a packet including the following documents:
  • Completed SBA Form 1086 (hyperlink)
  • Certified copy of the SBA Note (example)
  • $75.00 check payable to Colson Services
  • Calendar quarter letter (stating that the loan rate will reset every calendar quarter)
  • Settlement typically occurs within 7-10 business days

For More Information

  • Submit Idaho Prime Comments or Questions