How to Get a Loan for General Merchandise Stores

Looking for SBA loans for general merchandise stores? The SBA may be the answer. This $60,000 general merchandise stores loan was issued by an Oregon bank.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with People's Bank Of Commerce, out of Medford, Oregon. The loan was granted and they received $60,000 to help grow their Medford, Oregon business.

SBA Loan Borrower

COMPANY TYPE: DEPARTMENT STORES
MEDFORD, OR 97501

SBA Loan Lender

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

This loan was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA delivers a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5311 - Department Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

3/6/2003

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. People's Bank Of Commerce had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, People's Bank Of Commerce made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

504 Loans

Small Bank Loans in Medford, Oregon

SBA Oregon Lenders