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December 22, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > Truckee, Business Loans > Bank Of The West Truckee Business Loans > General Automotive Repair Shops Loan | ||||
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Mcminnville, Oregon Bank Loan
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Raising Money for General Automotive RepairWith these business loans for general automotive repair, the SBA guarantees the lender that the loan will be repaid. This general automotive repair loan for $255,900 was given to an Oregon entrepreneur in 2000. This small business knew how to go about getting a business bank loan. Based in Mcminnville, Oregon, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Bank Of The West, based in Truckee, California. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender BANK OF THE WEST This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 9/7/2000 Loan Approval Gross Amount $255,900 Loan Approval from the SBA Of the total $255,900 loan amount, the SBA guaranteed $191,925. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great way to raise money 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: SBA Banks in Truckee, California Browse All Business Loan Sources for California
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