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May 4, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > Eugene, Business Loans > Siuslaw Bank Eugene Business Loans > Northwest Property Assoc. LLC Loan | ||||
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Business Loans for Eugene Small Businesses
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Oregon Entrepreneur Secures Financing to Buy Re/max Realty FranchiseBorrowing money to purchase a Re/max Realty franchise? Siuslaw Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Eugene, Oregon needed money to invest in a Re/max Realty franchise back in 2006. Siuslaw Bank issued an SBA franchise loan. Here are the details on this Oregon small business loan. SBA Loan Borrower NORTHWEST PROPERTY ASSOC. LLC SBA Loan Lender SIUSLAW BANK This lender issued this small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 522310 - Mortgage and Nonmortgage Loan Brokers Loan Approval Date 6/14/2006 Loan Approval Gross Amount $699,000 Loan Approval from the SBA Of the total $699,000 loan amount, the SBA guaranteed $499,995. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Re/max Realty franchise. At the time of the loan, the company had 37 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Siuslaw Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Siuslaw Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Borrowing Money from Friends and Family SBA Participating Banks in Eugene, Oregon
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