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May 19, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > Gresham, Business Loans > Mbank Gresham Business Loans > Farm Supplies Loan | ||||
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Oregon Bank SBA Loans
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Mbank SBA Loan to Farm Supplies CompanyLooking to get an Oregon small business loan? Here's one Oregon business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Boring, Oregon was able to borrow $55,000 from Mbank. The SBA made the loan possible by guaranteeing $44,000 of this Oregon small business loan. SBA Loan Borrower COMPANY TYPE: FARM SUPPLIES SBA Loan Lender MBANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5191 - Farm Supplies Loan Approval Date 8/16/2000 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $44,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links:
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