Get an SBA Loan for Personal Care Services

With these bank loans for personal care services, the SBA guarantees the lender that the loan will be repaid. This personal care services loan for $42,000 was given to an Oregon entrepreneur in 2002.

This company 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 2002. The lending bank was Albina Community Bank, based in Portland, Oregon.

SBA Loan Borrower

COMPANY TYPE: PERSONAL CARE SERVICES
PORTLAND, OR 97211

SBA Loan Lender

ALBINA COMMUNITY BANK
2002 NE MLK JR BLVD
PORTLAND, OR 97212

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812199 - Personal Care Services

Loan Approval Date

6/4/2002

Loan Approval Gross Amount

$42,000

Loan Approval from the SBA

Of the total $42,000 loan amount, the SBA guaranteed $35,700.

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 2 employees. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Albina Community Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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SBA 7A Banks in Portland, Oregon

SBA Lenders in Oregon