We offer
SBA financing and commercial real estate financing. We can offer referrals for
smaller business loans, so please don’t hesitate to call us for your southern
Oregon business loan needs.
SBA 7(a) Loan Guaranty
This is the SBA’s primary
business loan program to help qualified small businesses obtain financing when
they might not be eligible for business loans through normal lending channels.
It is also the agency’s most flexible business loan program, since financing
under this program can be guaranteed for a variety of general business
purposes.
Loan proceeds can be used
for most sound business purposes including working capital, machinery and
equipment, furniture and fixtures, land and building (including purchase,
renovation and new construction), leasehold improvements, and debt refinancing
(under special conditions). Loan maturity is up to 10 years for working capital
and generally up to 25 years for fixed assets.
SBA 504 Loan Program
Provides long-term,
fixed-rate financing to small businesses to acquire real estate or machinery or
equipment for expansion or modernization. Typically a 504 project includes a
loan secured from a private-sector lender, such as a bank, with a senior lien,
a loan secured from a Community Development Corporation (funded by a 100
percent SBA-guaranteed debenture) with a junior lien covering up to 40 percent
of the total cost, and a contribution of at least 10 percent equity from the
borrower. The maximum SBA debenture generally is $1 million (and up to $1.3
million in some cases).
Proceeds from 504 loans must
be used for fixed asset projects such as: purchasing land and improvements,
including existing buildings, grading, street improvements, utilities, parking
lots and landscaping; construction of new facilities, or modernizing,
renovating or converting existing facilities; or purchasing long-term machinery
and equipment.
The 504 Program cannot be
used for working capital or inventory, consolidating or repaying debt, or
refinancing.
We offer a variety of loans –
from adjustable rate to fixed for 5- and 10-year periods. Loans can be anywhere
in Oregon. Those along the I-5 corridor can be up to 80% Loan-To-Value, while
those in outlying areas or along the Oregon coast are typically up to 70 to 75%
LTVs. All loans must be real estate secured. Please contact us for the most
current rates.