Loan Services
Commercial Loans
The Commercial Loan Department administers the Small Business Administration 504, Revolving Loan Fund, USDA/IRP, and Micro business loan programs within our region. Our region being the five northern Counties of Idaho; Benewah County, Bonner County, Kootenai County and Shoshone County. These loans are structured to provide fixed asset financing and working capital.
Business Counseling
Small businesses in North Idaho can receive counseling, business development ideas and entrepreneurial training through PAC.
The Commercial Loan Department administers the Small Business Administration 504, Revolving Loan Fund, USDA/IRP, and Micro business loan programs within our region. Our region being the five northern Counties of Idaho; Benewah County, Bonner County, Kootenai County and Shoshone County. These loans are structured to provide fixed asset financing and working capital.
Business Counseling
Small businesses in North Idaho can receive counseling, business development ideas and entrepreneurial training through PAC.
Loan Programs
Micro Loan Program
This is for loans $1,000 to $25,000. The loan proceeds can be used for equipment and inventory purchases, repairs, and working capital; however, this program cannot be used for refinancing pre-existing debt. PAC provides all financing so no bank match is required.
IRP Loan Program (USDA Rural Development)
This program is for loans up to $150,000, with a 15% capital injection from the borrower. Loans usually involve bank match of at least 50% of the total loan request, with the bank loan in first lien position. Loans for working capital and inventory may have a 5-year maturity; loans for equipment may have a 7-year maturity; and real estate loans may have a 20-year maturity. PAC's interest rate is fixed at or near prime rate.*
RLF Loan Program
This program is for loans up to $150,000 with a borrower capital injection of 15%. There must be a 50% bank match, with the bank loan in first lien position. Loans for working capital and inventory may have a 5-year maturity; loans for equipment may have a 7-year maturity, and real estate loans may have a 20-year maturity. PAC's interest rate is fixed at or near prime rate. *
SBA 504 Program
The maximum PAC/SBA 504 loan is $2,000,000. A bank participates with PAC by providing 50% of total financing. PAC provides a maximum of 40% of total financing, with a minimum borrower capital injection of 10%. Loans to purchase and install equipment have a 10-year maturity and loans for real estate have a 20-year maturity with a fixed interest rate.
* This loan program has a goal of creating or retaining one job for every $50,000 that the PAC loan provides.
Panhandle Area Council, Inc. does not discriminate by reason of race, color, religion, sex, marital status, disability, age, or national origin in services or accommodations offered or provided to our loan clients and potential loan clients. PAC is an equal opportunity provider.
This is for loans $1,000 to $25,000. The loan proceeds can be used for equipment and inventory purchases, repairs, and working capital; however, this program cannot be used for refinancing pre-existing debt. PAC provides all financing so no bank match is required.
IRP Loan Program (USDA Rural Development)
This program is for loans up to $150,000, with a 15% capital injection from the borrower. Loans usually involve bank match of at least 50% of the total loan request, with the bank loan in first lien position. Loans for working capital and inventory may have a 5-year maturity; loans for equipment may have a 7-year maturity; and real estate loans may have a 20-year maturity. PAC's interest rate is fixed at or near prime rate.*
RLF Loan Program
This program is for loans up to $150,000 with a borrower capital injection of 15%. There must be a 50% bank match, with the bank loan in first lien position. Loans for working capital and inventory may have a 5-year maturity; loans for equipment may have a 7-year maturity, and real estate loans may have a 20-year maturity. PAC's interest rate is fixed at or near prime rate. *
SBA 504 Program
The maximum PAC/SBA 504 loan is $2,000,000. A bank participates with PAC by providing 50% of total financing. PAC provides a maximum of 40% of total financing, with a minimum borrower capital injection of 10%. Loans to purchase and install equipment have a 10-year maturity and loans for real estate have a 20-year maturity with a fixed interest rate.
* This loan program has a goal of creating or retaining one job for every $50,000 that the PAC loan provides.
Panhandle Area Council, Inc. does not discriminate by reason of race, color, religion, sex, marital status, disability, age, or national origin in services or accommodations offered or provided to our loan clients and potential loan clients. PAC is an equal opportunity provider.
