Oregon Small Business Loan Issued to Florists Company

Small business loans in Oregon are tough to come by these days. We take a look at one Oregon small business loan, provided by an Oregon bank, that was approved by the SBA.

This company, based in Portland, Oregon, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from West Coast Bank. We've got the inside scoop on this Oregon small business loan.

SBA Loan Borrower

COMPANY TYPE: FLORISTS
PORTLAND, OR 97205

SBA Loan Lender

WEST COAST BANK
5335 MEADOWS RD
LAKE OSWEGO, OR 97035

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453110 - Florists

Loan Approval Date

1/18/2005

Loan Approval Gross Amount

$295,000

Loan Approval from the SBA

Of the total $295,000 loan amount, the SBA guaranteed $221,250.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Getting an SBA Loan For Your Business

Remember, you 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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Obtaining Funding - How to Borrow Money

Who Lends Money to Small Businesses in Lake Oswego, Oregon

Where to Get an SBA Loan Oregon