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November 15, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Portland, Business Loans > Albina Community Bank Portland Business Loans > Tires And Tubes Loan | ||||
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Washington Small Business Funding
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Getting an SBA Loan for Tire and Tube WholesalersLooking for SBA loans for tire and tube wholesalers? An SBA loan may be just what you've been looking for. This $75,000 tire and tube wholesalers loan was issued by an Oregon bank. This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Albina Community Bank, out of Portland, Oregon. The loan was granted and they received $75,000 to help grow their Vancouver, Washington business. SBA Loan Borrower COMPANY TYPE: TIRES AND TUBES SBA Loan Lender ALBINA COMMUNITY BANK When this loan was made, the lender participated in the SBA's Certified Lenders Program (CLP). This program is designed to give expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5014 - Tires and Tubes NAICS Code 421130 - Tire and Tube Wholesalers Loan Approval Date 6/26/2002 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. More Information on This SBA Loan The borrower borrowed this money for a new 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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Albina Community Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Small Business Banks in Portland, Oregon
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