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November 22, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > Bend, Business Loans > Bank Of The Cascades Bend Business Loans > Automotive Services Loan | ||||
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SBA Lenders in Oregon
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SBA Loan from Bank Of The Cascades Helps Automotive Services CompanyBank Of The Cascades is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Oregon entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Bend, Oregon, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Bank Of The Cascades, based in Bend, Oregon. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE SERVICES SBA Loan Lender BANK OF THE CASCADES The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7549 - Automotive Services NAICS Code 441310 - Automotive Parts and Accessories Stores Loan Approval Date 3/24/2003 Loan Approval Gross Amount $151,400 Loan Approval from the SBA Of the total $151,400 loan amount, the SBA guaranteed $113,550. 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 10 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of The Cascades had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of The Cascades made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Where to Get an SBA Loan in Bend, Oregon
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