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November 15, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > Bend, Business Loans > Bank Of The Cascades Bend Business Loans > Food Manufacturing Loan | ||||
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Oregon SBA Lenders
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Bend, Oregon Lender Lends Money to Food Manufacturing CompanyA Bend, Oregon small business loan can be yours. Learn how a business got a $326,500 business loan from this Oregon bank. This loan to a local firm is a good example of an SBA loan. Bank Of The Cascades made the loan and the SBA guaranteed a portion of the loan. Many other Oregon entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: FOOD MANUFACTURING SBA Loan Lender BANK OF THE CASCADES The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 311999 - Food Manufacturing Loan Approval Date 5/26/2005 Loan Approval Gross Amount $326,500 Loan Approval from the SBA Of the total $326,500 loan amount, the SBA guaranteed $163,250. 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 16 employees. The SBA loan application for the borrower indicated that the loan would help generate 4 new jobs and retain 20 existing jobs. 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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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