Small Business Loans for Direct Selling Establishments

With these small business loans for direct selling establishments, the SBA guarantees the lender that the loan will be repaid. This direct selling establishments loan for $97,300 was given to an Oregon entrepreneur in 2000.

This company knew how to go about getting a business bank loan. Based in Hillsboro, Oregon, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was West Coast Bank, based in Woodburn, Oregon.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
HILLSBORO, OR 97123

SBA Loan Lender

WEST COAST BANK
1755 MT HOOD AVE, STE 120
WOODBURN, OR 97071

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

10/6/2000

Loan Approval Gross Amount

$97,300

Loan Approval from the SBA

Of the total $97,300 loan amount, the SBA guaranteed $77,840.

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 12 employees. This SBA loan request did not indicate that the company promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like West Coast Bank and they will explain how you can get an SBA loan for your company.

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:

VC Firms on Twitter

Best Woodburn, Oregon Banks for Small Business

Getting an SBA Loan in Oregon