Department Stores Business Loans

Looking for business loans for department stores? An SBA loan may be just what you've been looking for. This $450,000 department stores loan was issued by an Oregon bank.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Community First Bank, out of Prineville, Oregon. The loan was granted and they received $450,000 to help grow their Springfield, Oregon business.

SBA Loan Borrower

COMPANY TYPE: DEPARTMENT STORES
SPRINGFIELD, OR 97478

SBA Loan Lender

COMMUNITY FIRST BANK
555 NW THIRD ST
PRINEVILLE, OR 97754

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5311 - Department Stores

NAICS Code

452110 - Department Stores

Loan Approval Date

9/4/2003

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $337,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 25 employees. The SBA loan documents did not indicate that the small business promised 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?

If you want money for new small business in Springfield OR, you ought to talk with a local Springfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Springfield businesses.

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 Community First Bank 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:

Determining Proper Capital Structure for a Business

Who Lends Money to Small Businesses in Prineville, Oregon

SBA Participating Banks in Oregon