West Coast Bank Provides SBA Loan to Buy Port Of Subs Franchise

Borrowing money to purchase a Port Of Subs franchise? West Coast Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Port Of Subs franchise shouldn't be overly burdensome. In 2007, West Coast Bank issued an SBA franchise loan to an entrepreneur in Bend, Oregon. Because Port Of Subs was registered with the SBA's registry of franchises, this Oregon small business loan was issued on an expedited basis.

SBA Loan Borrower

PORT OF SUBS
BEND, OR 97701

SBA Loan Lender

WEST COAST BANK
5335 MEADOWS RD
LAKE OSWEGO, OR 97035

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/20/2007

Loan Approval Gross Amount

$187,500

Loan Approval from the SBA

Of the total $187,500 loan amount, the SBA guaranteed $140,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Port Of Subs franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 9 new jobs and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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:

Port of Subs, Inc.

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