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May 19, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > Medford, Business Loans > People's Bank Of Commerce Medford Business Loans > Tobacco Stores Loan | ||||
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How to Get SBA Money in Medford, Oregon
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Oregon SBA Loan Issued to Tobacco Stores CompanyOregonBank loans are available to Oregon firms through the SBA. In this case, an Oregon bank provides the loan. You can learn something about getting a small business loan in Medford, Oregon by studying this loan to a local company, made back in 2006. Banks like People's Bank Of Commerce may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: TOBACCO STORES SBA Loan Lender PEOPLE'S BANK OF COMMERCE 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 453991 - Tobacco Stores Loan Approval Date 5/18/2006 Loan Approval Gross Amount $69,000 Loan Approval from the SBA Of the total $69,000 loan amount, the SBA guaranteed $58,650. 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 loan application indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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: Best Medford, Oregon Banks for Small Business
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