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Portland District Office Sets New Record in Lending
PORTLAND, Ore. – In the Portland District, the U.S. Small Business Administration guaranteed $457 million in supported loans during fiscal year 2013, up nearly $30 million over fiscal year 2012. The number of 7(a) loans increased nearly 4 percent and the dollar amount increased 36 percent compared to year before. From Oct. 1, 2012 to Sept. 30, 2013, there were 748 7(a) loans and 82 504 loans supported.
“The pace of SBA loan-making is a healthy sign of continued support by the credit markets and is one of the foundations for ensuring the availability of financing to small businesses,” said District Director Camron Doss. “Helping small businesses gain access to capital is an important part of helping them grow and create new jobs.”
“Our focus at SBA is to help small businesses start, grow and succeed. Access to capital is the life blood of small businesses,” said SBA Regional Administrator Calvin Goings. “The Portland District Office should be the first stop for a small businesses looking to borrow money. Our staff excels at guiding small businesses on their road to success.”
7(a) loans are the SBA’s primary business loan program; 504 loans provide long-term, fixed-rate financing for acquisition and/or renovation of capital assets including land, buildings and equipment.
For more information about SBA loan programs and to find a lender visit sba.gov/or.