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May 8, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > Woodburn, Business Loans > West Coast Bank Woodburn Business Loans > Commercial And Service Industry Machinery Manufacturing Loan | ||||
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Requirements for Small Businesses On Getting a Loan
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Raising Money for Commercial and Service Industry Machinery ManufacturingLooking for business loans for commercial and service industry machinery manufacturing? Talk to a banker who works with the SBA. This $12,000 commercial and service industry machinery manufacturing loan was issued by an Oregon bank. This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with West Coast Bank, out of Woodburn, Oregon. The loan was granted and they received $12,000 to help grow their Canby, Oregon business. SBA Loan Borrower COMPANY TYPE: COMMERCIAL AND SERVICE INDUSTRY MACHINERY MANUFACTURING SBA Loan Lender WEST COAST BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333319 - Commercial and Service Industry Machinery Manufacturing Loan Approval Date 5/17/2004 Loan Approval Gross Amount $12,000 Loan Approval from the SBA Of the total $12,000 loan amount, the SBA guaranteed $10,200. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into West Coast Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Who Lends Money to Small Businesses in Woodburn, Oregon Getting a Business Loan in Oregon
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