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May 5, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > Portland, Business Loans > Albina Community Bank Portland Business Loans > Full-Service Restaurants Loan | ||||
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Oregon Bank SBA Loans
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Business Loan from Albina Community Bank Given to Full-Service Restaurants CompanyAn SBA loan from Albina Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Portland, Oregon business owner got a $35,000 loan. This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Albina Community Bank, out of Portland, Oregon. The loan was granted and they received $35,000 to help grow their Portland, Oregon business. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender ALBINA COMMUNITY BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. 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. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 2/2/2005 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $29,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to raise money for a company in Portland OR, you ought to talk with a local Portland SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Portland businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Albina Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Albina Community 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: Family and Friend Investors - Your First Financiers Best Portland, Oregon Banks for Small Business Where to Get an SBA Loan Oregon
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