Capital Access Team: Program FAQs
What Guidance is Available?
The Idaho SBDC Capital Access Team is here to assist you through the loan process by assessing your business, helping you complete the loan package, and finally matching you with a reputable and qualified lender.
What Goes into a Lending Package?
The hardest part in preparing for capital is putting your loan package together. The Idaho SBDC Capital Access Team will work with you to put all documents required for funding together and make sure that you are putting your best foot forward. Our consultants will answer any questions regarding any of the documents and assist you in obtaining any items that are missing from the checklist.
We ask for all these documents in order to provide the lending institutions with all the information necessary to make an informed decision regarding your loan. The items listed on the checklist not only serve as a guide but are also a requirement for presenting your loan package to our lending partners.
How does the Idaho SBDC Capital Access Team provide lender matchmaking services?
With our extensive network of lenders, we’ll find the best fit for you and connect you with them. Our partners will help you finance your loans, and they may even be able to aid you in acquiring a lower rate. We also assist in obtaining a quick turnaround for working capital.
Our job is to find you the right lender for your situation and make sure that the loan meets your business needs.
Creating Your Idaho SBDC Capital Access Team Bank Plan
The Idaho SBDC Capital Access Team uses bank plans to package the most important data lenders review when making decisions about funding a loan.
A bank plan, different from a business plan, outlines the following:
- The purpose and use of the loan
- How you plan to repay
- Your profitability and cash flow
- How your business stacks up against industry data.
Bankers typically skim over parts in your business plan like exciting marketing strategies and focus more on finances. The bank plan packages some of the most crucial financial data for bankers to easily review.
Components of your bank plan:
- Business Opportunity
- Use of Funds
- Your Timeline
- Projections and Assumptions
- Business and Personal Tax returns
- Credit Score and Credit History
Access to Industry Analysis and Benchmarking
The Idaho SBDC Capital Access Team can provide access to market research and industry financial analysis, all at no cost to you. The industry financial data or benchmarking data is the same type of analysis information that lenders use to make decisions on where your business is relative to your industry. This type of data is useful when putting together financial projections, assumptions and a bank plan, to support your loan request.
