Gresham, OR Entrepreneur Gets SBA Loan to Buy Hayes Franchise

Borrowing money to invest in a Hayes franchise? Mbank has a history of making these loans and they are guaranteed by the SBA.

Hayes franchise loans are available to Gresham, Oregon entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Mbank, based in Gresham, Oregon, issued an SBA franchise loan for a Hayes franchise in 2003. We've got all the details on this Oregon small business loan.

SBA Loan Borrower

HAYES HANDPIECE OF NORTHERN OR
GRESHAM, OR 97080

SBA Loan Lender

MBANK
1290 NE BURNSIDE
GRESHAM, OR 97030

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339114 - Dental Equipment and Supplies Manufacturing

Loan Approval Date

4/11/2003

Loan Approval Gross Amount

$63,000

Loan Approval from the SBA

Of the total $63,000 loan amount, the SBA guaranteed $53,550.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Hayes franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Hayes Handpiece Franchises

Obtaining Funding - Friends and Family

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SBA Lenders in Oregon