Oakridge, Oregon Entrepreneur Gets a Small Business Loan

Would an Oregon bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Ohio bank, which offers SBA loans to Oregon entrepreneurs.

You can learn something about getting a small business loan in Oakridge, Oregon by studying this loan to a local company, made back in 2005. Banks like United Midwest Savings Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE
OAKRIDGE, OR 97463

SBA Loan Lender

UNITED MIDWEST SAVINGS BANK
4848 REED RD
COLUMBUS, OH 43220

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811118 - Automotive Mechanical and Electrical Repair and Maintenance

Loan Approval Date

2/11/2005

Loan Approval Gross Amount

$305,800

Loan Approval from the SBA

Of the total $305,800 loan amount, the SBA guaranteed $229,350.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like United Midwest Savings Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Bank Credit Lines

SBA Approved Banks in Columbus, Ohio

SBA Participating Banks in Ohio