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May 1, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > Portland, Business Loans > West Coast Bank Portland Business Loans > Motorcycle, Bicycle, And Parts Manufacturing Loan | ||||
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Portland, Oregon Bank for SBA Loans
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Entrepreneur Works With Portland, Oregon Bank to Get an SBA LoanA Portland, Oregon small business loan can be yours. Learn how a company got a $1,000,000 business loan from this Oregon bank. This loan to a local firm is a good example of an SBA loan. West Coast Bank made the loan and the SBA guaranteed a portion of the loan. Many other Oregon entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: MOTORCYCLE, BICYCLE, AND PARTS MANUFACTURING SBA Loan Lender WEST COAST BANK This business loan was financed by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA delivers a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 336991 - Motorcycle, Bicycle, and Parts Manufacturing Loan Approval Date 11/23/2005 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $700,000. 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 50 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 Banks for Portland, Oregon Loans
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