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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 > Single-Family Housing Construction Loan | ||||
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Shady Cove, Oregon Bank Loan
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Commercial Loans for Single Family Housing ConstructionWith these commercial loans for single family housing construction, the SBA guarantees the lender that the loan will be repaid. This single family housing construction loan for $999,750 was given to an Oregon entrepreneur in 2001. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Shady Cove, Oregon was able to borrow $999,750 from People's Bank Of Commerce. The SBA made the loan possible by guaranteeing $749,812 of this Oregon small business loan. SBA Loan Borrower COMPANY TYPE: SINGLE-FAMILY HOUSING CONSTRUCTION SBA Loan Lender PEOPLE'S BANK OF COMMERCE This small business loan was underwritten by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA promises a quick answer on whether the loan qualifies. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1521 - Single-Family Housing Construction NAICS Code 233210 - Single Family Housing Construction Loan Approval Date 8/16/2001 Loan Approval Gross Amount $999,750 Loan Approval from the SBA Of the total $999,750 loan amount, the SBA guaranteed $749,812. 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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into People's Bank Of Commerce and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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:
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