Entrepreneur Works With Portland, Oregon Bank to Get an SBA Loan

Want to talk with a Portland, Oregon bank about a business loan? Here's one Oregon business loan, issued by a Portland bank, that was approved by the SBA.

Applying for an SBA loan with Albina Community Bank worked out well for our friends at one local firm in Portland, Oregon. The business was able to get an SBA loan for $39,300. Way to go!

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
PORTLAND, OR 97217

SBA Loan Lender

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

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

12/4/2007

Loan Approval Gross Amount

$39,300

Loan Approval from the SBA

Of the total $39,300 loan amount, the SBA guaranteed $19,650.

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 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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.

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