Gresham, Oregon Lender Lends Money to Fitness And Recreational Sports Centers Company

A Gresham, Oregon SBA loan can be yours. Learn how one firm got a $111,200 business loan from this Oregon bank.

This loan to an entrepreneur is a good example of an SBA loan. Mbank made the loan and the SBA guaranteed a portion of the loan. Many other Oregon entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
PORTLAND, OR 97239

SBA Loan Lender

MBANK
1290 NE BURNSIDE
GRESHAM, OR 97030

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

2/16/2005

Loan Approval Gross Amount

$111,200

Loan Approval from the SBA

Of the total $111,200 loan amount, the SBA guaranteed $94,520.

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 8 employees. The loan application did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are raising money in Portland OR, you ought to talk with a local Portland SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Portland businesses.

This SBA loan was for $111,200. How would you spend $111,200 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

The Friends and Family Network

Small Business Banks in Gresham, Oregon

Getting a Business Loan in Oregon