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November 15, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > Wilsonville, Business Loans > West Coast Bank Wilsonville Business Loans > Floor Covering Stores Loan | ||||
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Best Banks for Lincoln City, Oregon Small Businesses
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Floor Covering Stores SBA LoansWith these SBA loans for floor covering stores, the SBA guarantees the lender that the loan will be repaid. This floor covering stores loan for $25,000 was given to an Oregon entrepreneur in 2006. This business knew how to go about getting a business bank loan. Based in Lincoln City, Oregon, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was West Coast Bank, based in Wilsonville, Oregon. SBA Loan Borrower COMPANY TYPE: FLOOR COVERING STORES SBA Loan Lender WEST COAST BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 442210 - Floor Covering Stores Loan Approval Date 11/22/2006 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 only one employee. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Small Bank Loans in Wilsonville, Oregon
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