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April 28, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > Borrego Springs, Business Loans > Borrego Springs Bank Borrego Springs Business Loans > Motor Vehicle Towing Loan | ||||
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Small Business Banks That Lend to Portland Businesses
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Borrego Springs Bank Gives Bank Loan to Motor Vehicle Towing CompanyOregonBank loans are available to Oregon firms through the SBA. In this case, a California bank provides the loan. You can learn something about getting a small business loan in Portland, Oregon by studying this loan to a local company, made back in 2006. Banks like Borrego Springs Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE TOWING SBA Loan Lender BORREGO SPRINGS BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 488410 - Motor Vehicle Towing Loan Approval Date 9/27/2006 Loan Approval Gross Amount $546,000 Loan Approval from the SBA Of the total $546,000 loan amount, the SBA guaranteed $409,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 35 employees. This SBA loan request indicated that the loan would help retain 35 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA 7A Lenders in Borrego Springs, California
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