Mbank Gives Small Business Loan to Nondurable Goods Merchant Wholesalers Company

Would an Oregon business loan help your company expand? If so, you may want to talk with this Oregon bank, which offers SBA loans to Oregon entrepreneurs.

Getting a small business loan in Portland, Oregon was a top priority for this SBA-financed company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Mbank. Here are the details on this Oregon small business loan.

SBA Loan Borrower

COMPANY TYPE: NONDURABLE GOODS MERCHANT WHOLESALERS
PORTLAND, OR 97204

SBA Loan Lender

MBANK
1290 NE BURNSIDE
GRESHAM, OR 97030

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424990 - Nondurable Goods Merchant Wholesalers

Loan Approval Date

5/25/2004

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Mbank and they will explain how you can get an SBA loan for your company.

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:

Business Credit Evaluation

SBA Approved Banks in Gresham, Oregon

Oregon SBA Banks