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Best Small Business Loans in Boise, ID

Sept. 27, 2019, 3:26 a.m.

Qualify for a business loan and use borrowed money to start a business, invest in equipment or build profit margins. Our partners at ConsumerAffairs researched the best business loans in Boise based on lender transparency and the quality of their loans.

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#1
RECOMMENDED
Seek Business Capital

Startup Consulting • Business Services

Sponsored Ad
#1 MOST POPULAR
Seek Business Capital
Seek Business Capital
Features
  • Available in Boise
  • More than 92% funding approval rate
  • Get approved in the same day
  • Online application available
Read More
#2
Imperial Advance
Imperial Advance
Features
  • Financial consulting available
  • Flexible loan programs
  • Funds are available in 24 hours
  • Available in Boise
Read More
VISIT WEBSITE
CALL IMPERIAL ADVANCE
(888) 633-2083
Sponsored  Ad
#3
National Business Capital
National Business Capital
Features
  • More than $1 bilion in funding secured
  • Choose between multiple financing options
  • Available in Boise
  • More than 10 years of industry experience
Read More
#4
GUD Capital
GUD Capital
Features
  • Open & honest communication
  • Network of more than 4,000 lenders
  • Fast & reliable online services
  • Multiple loan options available
Read More
Location
Serves residents in
Boise, ID
(866) 526-0238
#5
Idaho Central Credit Union
Idaho Central Credit Union
Features
  • Flexible monthly payments
  • Up to 10-year term loans
  • 36 full-service locations in Idaho
  • Free quotes available
Read More
Location
200 N. 4th St.
Boise, ID 83702
(208) 846-7000
Bank of the West
Bank of the West
Features
  • M-F: 9am - 5pm
  • Closed Sat and Sun
  • bankofthewest.com
Location
9140 W. Emerald St., Ste. 100
Boise, ID 83704
(208) 658-9747
Idaho Independent Bank
Idaho Independent Bank
Features
  • M-F: 9:30am - 6pm
  • Closed Sat and Sun
  • theidahobank.com
Location
401 W. Front St., Ste. 100
Boise, ID 83702
(208) 338-8000
HomeStreet Bank
HomeStreet Bank
Features
  • M-F: 9am - 5pm
  • Closed Sat and Sun
  • homestreet.com/branches/eagle-home-loan-center
Location
775 S. Rivershore Ln., Ste. 220
Eagle, ID 83616
(208) 489-7276
D. L. Evans Bank
D. L. Evans Bank
Features
  • M-F: 9:30am - 6pm
  • Closed Sat and Sun
  • dlevans.com
Location
3845 W. State St.
Boise, ID 83703
(208) 342-2226
Capital Matrix
Capital Matrix
Features
  • M-F: 8:30am - 5pm
  • Closed Sat and Sun
  • capitalmatrix.org
Location
1161 W. River St., Ste. 220
Boise, ID 83702
(208) 383-3473

How to get a business loan in Boise

Boise skyline

Business loans are a vital part of starting or expanding a company in Boise. Local business owners and entrepreneurs apply for business loans to start a business, cover unexpected expenses or purchase equipment or property needed to expand a company.

There are many types of lenders in Boise, including banks, commercial lenders and personal credit cards. A good lender, however, will partner with you to help your company succeed and provide advice on which types of loan work best with your business model. Some of the more common business loans are:

  • Business term loan: These provide upfront cash that is paid back over a predetermined period of time. The interest and the repayment plan are based on the business’s credit history, financial condition and monthly revenue.
  • Business line of credit: These are similar to a credit card, providing a maximum amount of funding the business can use and only accruing interest on withdrawn funds. While there are significant penalties for missed payments, the approval process is often simple.
  • Equipment loans: These loans often require a down payment and are used to purchase equipment. The purchased equipment serves as collateral for the loan.
  • Invoice financing: Invoice financing provides upfront cash that is secured by unpaid invoices. These loans are often ideal for companies with outstanding invoices that need funds quickly.
  • Merchant cash advance: These give the borrower a lump sum of cash in exchange for an agreed-upon percentage of credit and debit card sales.
  • U.S. Small Business Administration (SBA) loans: This is a government-backed loan that is provided by online lenders and commercial banks. SBA loans tend to be long-term loans and carry a lower annual percentage rate.
  • If you’re applying for a business loan through a bank or commercial lender, be prepared to discuss how you plan to use the funding, the projected outcome and the company’s business model. Lenders may also require bank statements, tax returns and financial reports.

    Online lenders are often more likely to work with business owners who have a poor credit history. These lenders will provide financial consultants, create a comprehensive viability assessment of the business and provide funding based on the business plan rather than the owner’s credit score or history.

    Seek Business Capital

    Seek Business Capital

    Seek Business Capital is an online lender that helps small business owners with startup consulting, business services and funding. The lender approves 92 percent of qualified applicants and provides free funding estimates within two hours. Customers in Boise appreciate the company’s experienced consultants and that the company does not place restrictions on how the funding is used.

    Sponsored Ad

    Imperial Advance

    Imperial Advance

    CALL IMPERIAL ADVANCE

    (888) 633-2083 VISIT IMPERIAL ADVANCE

    Imperial Advance works with an extensive network of lending partners to provide the best rates and terms possible for Boise applicants. Once an application is approved, the funding is transferred to the borrower’s account in 24 hours. Boise customers appreciate the straightforward application process and the company’s quick response.

    Sponsored Ad

    National Business Capital

    National Business Capital

    National Business Capital provides a simple application that connects borrowers with the company’s marketplace of more than 75 lenders. The company has financial advisors who help borrowers receive competitive offers. Boise business owners say they would recommend the company to others because of the simple, friendly service.

    Sponsored Ad

    GUD Capital

    GUD Capital

    GUD Capital has provided loans for big and small businesses for more than 50 years. The lender is a nationally recognized online finance company that offers a variety of loan options. Boise customers say they appreciate GUD Capital’s employees for their expertise and experience.

    Idaho Central Credit Union

    Idaho Central Credit Union

    Idaho Central Credit Union has 36 full-service locations throughout the state. The lender offers low fixed interest rates and flexible monthly payments with terms up to to 10 years. Boise customers say they appreciate the convenience provided by the multiple locations and the free quotes available on the lender’s website.

    Our partners independently research and analyze the companies mentioned in our guides and work with subject matter experts to add valuable information that helps consumers make smart purchase decisions. Our partners will not include companies on these guides that do not meet specific quality standards. The compensation we receive from our partners may impact how and where companies appear on our site, including the order in which they appear.

    Our partners independently research companies, and use editorial discretion to award companies with special recognition (i.e. Best Value) based on their staff’s judgement or subject matter expert’s judgement. Our partners do this to help you identify companies that will meet your specific buying needs, and do not receive compensation for these designations.