The purpose of the Microloan Program is to provide capital to small businesses in Eastern Idaho that might not otherwise be able to obtain it.


Eastern Idaho Counties Eligible for Micro Loans

• Bonneville County
• Custer County
• Lemhi County
• Butte County
• Fremont County
• Madison County
• Clark County
• Jefferson County
• Teton County



  • Rates are set at between 2 to 4 percent above the Wall Street prime rate, depending on the risk associated with the loan.
  • Loans that have adequate collateral, and that create new employment will have lower interest rates.
  • Loans for working capital, startup costs, or inventories, have a maximum term of 5 years. Loans for machinery and equipment, or furnishings and fixtures, have a maximum term of 10 years, but under no circumstance will be longer than the useful life of the collateral.
  • Eligible borrowers include healthy for profit small businesses within Idaho seeking assistance in funding smaller projects; normally between $1,000 and $25,000.
  • These funds can be used for any legal business purpose, with the exception of real estate.
  • For example, the purchase of machinery and equipment, furnishings and fixtures; the purchase of inventory; working capital used for either startup costs, or expansionary activities.
  • These funds may not be used for the refinancing of existing debt, the purchase of equity positions in a business, or franchise fees or liquor licenses.
  • The borrower is expected to provide a down payment or existing equity in the business of no less than 15% of the total eligible project.
  • Interest rates for these loans are fixed for the life of the loan.