Portland, Oregon Entrepreneur Gets a Business Loan

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

Getting a small business loan in Portland, Oregon was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Albina Community Bank. Here are the details on this Oregon small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING
PORTLAND, OR 97203

SBA Loan Lender

ALBINA COMMUNITY BANK
8040 N LOMBARD
PORTLAND, OR 97203

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

484121 - General Long-Distance Freight Trucking

Loan Approval Date

8/7/2003

Loan Approval Gross Amount

$24,800

Loan Approval from the SBA

Of the total $24,800 loan amount, the SBA guaranteed $21,080.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

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