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April 26, 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 > Automotive Services Loan | ||||
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Getting an SBA Loan in Hillsboro, Oregon
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Hillsboro, Oregon Entrepreneur Gets a Business LoanBank loans in Oregon are are few and far betweeen these days. We take a look at one Oregon bank loan, provided by a California bank, that was approved by the SBA. By giving the right information to Borrego Springs Bank, this Hillsboro, Oregon business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE SERVICES SBA Loan Lender BORREGO SPRINGS BANK This SBA loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending track record and a deep knowledge SBA lending rules and regulations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7549 - Automotive Services NAICS Code 488410 - Motor Vehicle Towing Loan Approval Date 9/26/2003 Loan Approval Gross Amount $436,000 Loan Approval from the SBA Of the total $436,000 loan amount, the SBA guaranteed $327,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Banking Deregulation's Effects on Entrepreneurship Who Lends Money to Small Businesses in Borrego Springs, California
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