SBA Loan from People's Bank Of Commerce Helps Full-Service Restaurants Company

People's Bank Of Commerce and the SBA work together to get business loans for growing small businesses. Here's an example of how an Oregon entrepreneur was able to get a loan to take a small business to the next level.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with People's Bank Of Commerce, out of Medford, Oregon. The loan was granted and they received $150,000 to help grow their Jacksonville, Oregon business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
JACKSONVILLE, OR 97530

SBA Loan Lender

PEOPLE'S BANK OF COMMERCE
750 BIDDLE RD
MEDFORD, OR 97504

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/11/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Jacksonville OR, you ought to talk with a local Jacksonville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Jacksonville businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like People's Bank Of Commerce that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

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Banks in Medford, Oregon

Getting a Business Loan in Oregon