If you’re thinking of starting a small business, you don’t want to overlook the Gem State. Idaho has a robust economy and is known for enacting legislation that’s favorable for small business owners. Of course, any entrepreneur needs funding, so whether you’re starting a business or you’re looking to grow an existing enterprise, you may want to check out the list of business grants and loans below that are only available to Idaho-based businesses. Scroll through now and find one that fits your needs.
Department or Agency: Idaho Workforce Development Council
Loan or Grant title: Employer Grant
Idaho businesses that are training new workers or re-training existing employees may qualify for an Employer Grant. The intention behind the grant is to help spur economic activity, increase skills for workers, and integrate technology into the workforce, among other benefits.
Department or Agency: Idaho Workforce Development Council
Loan or Grant title: Industry Sector Grant
The Idaho Workforce Development Council provides Industry Sector Grants to employers throughout the state who are looking to help fill the skills gap, retain jobs, and increase wages in the Idaho workforce.
Department or Agency: Altura Community Consulting and Business Finance
Loan or Grant title: Microloan Revolving Loan Fund
Businesses from any county in Idaho may be eligible to apply for Altura’s Microloan. This microloan program was designed to provide access to capital for businesses that are not typically able to qualify for traditional loans. Funds starting at $5,000 can be applied toward business purchases and collateralized financing, among other things.
Department or Agency: Southeast Idaho Council of Governments (SICOG)
Loan or Grant title: Revolving Loan Program for Southeast Idaho
The Revolving Loan Program for Southeast Idaho was designed with the intention of creating and retaining jobs and driving economic growth throughout the areas served by SICOG, which include Bannock, Bear Lake, Bingham, Caribou, Franklin, Oneida, and Power Counties. Business loans are available up to $250,000 and microloans up to $10,000 and can be used toward equipment and inventory purchases, real estate, and working capital.
Department or Agency: Regional Development Alliance
Loan or Grant title: Microloan Program
Idaho’s Regional Development Alliance’s Microloan Program supports new businesses with startup costs. With a quick approval process, this loan helps entrepreneurs bring their ideas to market sooner than traditional business loans. Applicants must be located in Bannock, Bingham, Bonneville, Butte, Custer, Jefferson, or Madison counties to qualify for these loans, which max out at $50,000.
Department or Agency: Regional Development Alliance
Loan or Grant title: Regional Investment Fund
Businesses located in Bannock, Bingham, Bonneville, Butte, Custer, Jefferson, or Madison counties that are expanding in Eastern Idaho may be eligible to apply for the Regional Investment Fund through Regional Development Alliance. Inventory, equipment, operating capital, and start-up costs are all eligible uses of the funds, among other costs.
Department or Agency: Regional Development Alliance
Loan or Grant title: Entrepreneur Loan Fund
Businesses in Bannock, Bingham, Bonneville, Butte, Custer, Jefferson, or Madison counties may be eligible for a loan through Regional Development Alliance’s Entrepreneur Loan Fund. This funding opportunity was designed as an alternative to traditional financing options and takes into consideration individual market placement. Loan amounts vary between $1,000 and $25,000 and are geared toward businesses and entrepreneurs looking to design their workforce initiatives around local movements.
Department or Agency: Regional Development Alliance
Loan or Grant title: Rural Retail Loans
Retail businesses in the following rural communities in Idaho may be eligible to receive a loan through the Regional Development Alliance’s Rural Retail Loan program: Downey (Bannock County), Lava Hot Springs (Bannock County), Aberdeen (Bingham County), Arco (Butte County), Challis (Custer County), Mackay (Custer County), Stanley (Custer County), and Mud Lake/Terreton (Jefferson County). While there is no maximum amount of investment, businesses must be determined to be a benefit to the community.
