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November 21, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > General Merchandise Stores Loan | ||||
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Oregon Small Business SBA Loans
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Lincoln City (oceanlake), Oregon Entrepreneur Gets a Small Business LoanOregonBusiness loans are available to Oregon business owners through the SBA. In this case, a California bank provides the loan. This business, based in Lincoln City (oceanlake), Oregon, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Wells Fargo Bank. We've got the inside scoop on this Oregon small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL MERCHANDISE STORES SBA Loan Lender WELLS FARGO BANK 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 452990 - General Merchandise Stores Loan Approval Date 10/16/2003 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 2 existing jobs. Getting an SBA Loan For Your Business If you are raising money in Lincoln City (oceanlake) OR, you ought to talk with a local Lincoln City (oceanlake) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lincoln City (oceanlake) businesses. 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. Related Links: The Friends and Family Network Best Banks for Small Business in San Jose, California
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