Areas Served: Benewah, Bonner, Kootenai and Shoshone Counties
Panhandle Area Council is dedicated to the economic development of North Idaho counties of Benewah, Bonner, Kootenai and Shoshone.
To insure the continued growth and prosperity of small businesses in our region, Panhandle Area Council, through the assistance of the U.S. Small Business Administration, has designed the Small Business Micro Loan Program.
The formation of the Small Business Micro Loan Program satisfies the need of small businesses for loans of $1,000 to $25,000. Micro loans are typically for businesses which have been operating for at least one year.
However, start-up businesses will be considered with the submission of an adequate business plan.
The loan proceeds can be used for equipment purchases or repair, inventory purchases, and working capital.
This program can not be used to refinance pre-existing debt.
The small business Micro Loan requires a first lien position on any equipment or inventory purchased with the loan proceeds.
In addition, other collateral, both business and personal may be used.
No bank match requirements exist for this program.
The term is usually three to five years, with a fixed interest rate.
A 15% borrower capital injection is required.
Contact Information
Panhandle Area Council, Inc
Address: 11100 N Airport Dr
City: Hayden
State: Idaho
Website:
https://www.pacni.org/
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