Panhandle Area Council, Inc.
208.772.0584
 fax 208.620.2313
11100 N Airport Drive
Hayden ID 83835
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Micro Loan Program

Contact
Panhandle Area Council is dedicated to the economic development of North Idaho. 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.

The above Small Business Micro Loan application lists items needed for the program. Additional information that should be submitted include: business plan for start-up business, monthly cash flow projections for one year, resume for owner, and both personal and business financial statements.


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