Financing for On-Line Information Services

With these commercial loans for on-line information services, the SBA guarantees the lender that the loan will be repaid. This on-line information services loan for $500,000 was given to an Oregon entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Portland, Oregon, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was The Cowlitz Bank, based in Portland, Oregon.

SBA Loan Borrower

COMPANY TYPE: ON-LINE INFORMATION SERVICES
PORTLAND, OR 97236

SBA Loan Lender

THE COWLITZ BANK
1001 SW 5TH, STE 250
PORTLAND, OR 97204

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

514191 - On-Line Information Services

Loan Approval Date

12/9/2004

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 15 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $500,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Microlending as a Small Business Funding Source

SBA Participating Banks in Portland, Oregon

Getting a Business Loan in Oregon