Pacific Continental Bank Gives Business Loan to Limited-Service Restaurants Company
Small business loans in Oregon are hard to find these days. We take a look at one Oregon small business loan, provided by an Oregon bank, that was approved by the SBA.
By giving the right information to Pacific Continental Bank, this Cottage Grove, Oregon business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
COTTAGE GROVE, OR 97424
SBA Loan Lender
PACIFIC CONTINENTAL BANK
111 W 7TH AVE
EUGENE, OR 97401
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
7/10/2001
Loan Approval Gross Amount
$132,000
Loan Approval from the SBA
Of the total $132,000 loan amount, the SBA guaranteed $112,200.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 indicated that the loan would help generate 13 new jobs and retain 2 existing jobs.
Getting an SBA Loan For Your Business
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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:
The Art of Bootstrapping
Where to Get an SBA Loan in Eugene, Oregon
Oregon SBA Banks