BUSINESS FUNDING:
Frequently Asked Questions
GETTING STARTED
What is the Capital Access Team, and how can it help my business?
A: The Capital Access Team at the Idaho SBDC helps small businesses secure funding by providing expert guidance on loans, grants, and alternative financing options. We assist with business planning, financial projections, and lender connections.
How do I start working with the Capital Access Team?
A: Begin by contacting your Request Appointment – SBDC Idaho. A business consultant will assess your needs and connect you with the Capital Access Team if financing is required.
Is there a cost to work with the Capital Access Team?
A: No. Our services are free to small businesses in Idaho.
What Guidance is Available?
A: 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?
A: Preparing for capital can be challenging, especially assembling your loan package. The Idaho SBDC Capital Access Team helps you gather all required documents, ensuring a strong application. Our consultants assist with missing items and answer any questions. These documents are essential for lenders to make informed decisions and meet the requirements for presenting your loan package.
How does the Idaho SBDC Capital Access Team provide lender matchmaking services?
A: 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.
How can I access industry analysis and benchmarking data?
A: The Idaho SBDC Capital Access Team provides free access to market research and industry financial analysis. This data includes benchmarking insights similar to those used by lenders to evaluate businesses. It can help you assess where your business stands within the industry and is valuable for creating financial projections, assumptions, and business plans to support loan applications.
Are there specific loan or funding programs available for different types of businesses?
A: Yes. Certain loan and funding programs may be available depending on your industry, business model, or location. We can help you identify programs that fit your business.
Does the Capital Access Team help with grants?
A: We help identify possible grant opportunities and guide you through the application process, but we do not directly provide grants.
CONTACT & NEXT STEPS
How do I schedule a consultation?
A: Visit Request Appointment – SBDC Idaho or contact your nearest SBDC office to schedule a free consultation.
Where can I find additional funding resources?
A: Check out our Capital Access – Capital Landscape – SBDC Idaho for funding guides, lender directories, and application tips.
LOAN & FINANCING SUPPORT
What types of funding can the Capital Access Team help me with?
A: We assist with:
- Small Business Administration (SBA) loans
- Traditional bank loans
- Microloans
- Alternative financing (investors, crowdfunding, etc.)
- Grant research and guidance
Can you guarantee that I will get funding?
A: No. We provide expert guidance to help strengthen your loan application and improve your chances, but funding decisions are made by lenders.
What documents do I need to apply for a loan?
A: Most lenders require:
- A business plan
- Financial statements (profit & loss, balance sheet, cash flow projections)
- Personal and business tax returns
- A loan request summary explaining how funds will be used
ELIGIBILITY & REQUIREMENTS
Do I qualify for business funding through the Capital Access Team?
A: We work with small businesses at all stages, but lenders typically require:
- A solid business plan
- Good credit history (varies by lender)
- Revenue history (for existing businesses)
- Collateral (depending on loan type)
Can startups get funding?
A: Yes, but options are more limited. Startups typically need strong personal credit, a well-developed business plan, and may need to provide collateral or personal investment.
Can you help if I’ve been denied a loan?
A: Yes. We can help you improve your financials, refine your business plan, and explore alternative funding options.
WORKING WITH LENDERS
Do you work with specific banks or lenders?
A: We have relationships with many Idaho lenders, but we do not favor any specific bank. We help match you with the best lender for your needs.
Can you introduce me to lenders?
A: Yes. If your business is ready, we can connect you with potential lenders and prepare you for meetings.
What documents do I need to apply for a loan?
A: We offer business planning support and templates to help you create a strong, lender-ready business plan.
ADDITIONAL RESOURCES
Can I get one-on-one help with my loan application?
A: Yes. Our consultants provide personalized assistance, from refining your loan package to preparing for lender meetings.
Do you offer financial literacy training?
A: Yes. We provide workshops and advising on budgeting, credit improvement, and financial planning.
How long does the funding process take?
A: It varies by lender and loan type. Some loans take weeks, while others may take months. Having complete and accurate financial documents speeds up the process.
