Bank Loans for Homes for the Elderly

With these bank loans for homes for the elderly, the SBA guarantees the lender that the loan will be repaid. This homes for the elderly loan for $926,500 was given to an Oregon entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gresham, Oregon was able to borrow $926,500 from The Cowlitz Bank. The SBA made the loan possible by guaranteeing $694,875 of this Oregon small business loan.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL CARE
GRESHAM, OR 97080

SBA Loan Lender

THE COWLITZ BANK
1001 SW 5TH, STE 250
PORTLAND, OR 97204

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8361 - Residential Care

NAICS Code

623312 - Homes for the Elderly

Loan Approval Date

7/25/2002

Loan Approval Gross Amount

$926,500

Loan Approval from the SBA

Of the total $926,500 loan amount, the SBA guaranteed $694,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Gresham OR, you ought to talk with a local Gresham SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Gresham businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from The Cowlitz Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Advice on Getting a Small Business Loan

Where to Get an SBA Loan in Portland, Oregon

Oregon SBA Banks