Libertybank SBA Loan to Full-Service Restaurants Company

Libertybank has a track record as a leading provider of SBA loans. Find out how this Oregon entrepreneur received an SBA loan from them.

Getting a small business loan in Springfield, Oregon was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Libertybank, operating out of Eugene, Oregon. Here are the details on this Oregon small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SPRINGFIELD, OR 97477

SBA Loan Lender

LIBERTYBANK
899 PEARL ST
EUGENE, OR 97401

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

722110 - Full-Service Restaurants

Loan Approval Date

11/13/2000

Loan Approval Gross Amount

$29,800

Loan Approval from the SBA

Of the total $29,800 loan amount, the SBA guaranteed $23,840.

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 10 employees. This SBA loan request did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

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:

Obtaining Funding - How to Borrow Money

SBA Approved Banks in Eugene, Oregon

Oregon SBA Banks