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November 14, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > Medford, Business Loans > People's Bank Of Commerce Medford Business Loans > Insurance Agencies And Brokerages Loan | ||||
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Oregon Bank SBA Loans
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People's Bank Of Commerce SBA Loan to Insurance Agencies And Brokerages CompanyAn SBA loan from People's Bank Of Commerce typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Medford, Oregon business owner got a $2,000,000 loan. This business knew how to go about getting a business bank loan. Based in Medford, Oregon, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was People's Bank Of Commerce, based in Medford, Oregon. SBA Loan Borrower COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES SBA Loan Lender PEOPLE'S BANK OF COMMERCE SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 524210 - Insurance Agencies and Brokerages Loan Approval Date 12/14/2005 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000. 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 11 employees. The SBA loan documents did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Don't apply for a loan directly with the SBA. You need to 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. 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: SBA Approved Banks in Medford, Oregon
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