Klamath Falls, Oregon Business Gets SBA-Guaranteed Funding from South Valley Bank & Trust

An SBA loan from South Valley Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Klamath Falls, Oregon business owner got a $40,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with South Valley Bank & Trust, out of Klamath Falls, Oregon. The loan was granted and they received $40,000 to help grow their Klamath Falls, Oregon business.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
KLAMATH FALLS, OR 97603

SBA Loan Lender

SOUTH VALLEY BANK & TRUST
803 MAIN ST
KLAMATH FALLS, OR 97601

This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

5/29/2003

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

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 only one employee. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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.

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