Portland is the largest city in the U.S. state of Oregon and the seat of Multnomah County. It is a major port in the Willamette Valley region of the Pacific Northwest, at the confluence of the Willamette and Columbia rivers. As of 2019, Portland had an estimated population of 654,743, making it the 26th most populous city in the United States, and the second-most populous in the Pacific Northwest after Seattle. Approximately 2.4 million people live in the Portland metropolitan statistical area (MSA), making it the 25th most populous MSA in the United States. Its Combined Statistical Area (CSA) ranks 19th-largest with a population of around 3.2 million.
Portland is one of the most popular economy sectors in the United States. The city's gross domestic product (GDP) was $160 billion in 2010, and its metropolitan area ranked first in the United States with a GDP of $230 billion. The city is home to many large corporations, including Nike, Intel, and Adidas. The city is also home to a large number of small businesses, which account for a significant portion of the city's economy.
Portland is a major center for the small business loans industry. The city is home to a large number of small business lenders, including the Small Business Administration (SBA), which is the largest provider of small business loans in the United States. Portland is also home to a number of small business incubators and accelerators, which provide resources and support to small businesses.
Comparing SBA loan types in Portland
Three SBA programs come up most often for Portland, Oregon businesses, and they do different jobs.
Small business loans available in Portland
An SBA 7(a) loan made to a Portland, Oregon business is made by a participating lender, not by the SBA. The lender underwrites it, sets the rate within the SBA maximum, and services it. What varies locally is which lenders are active, not the program rules.
Common uses here are the same as everywhere: working capital, equipment, owner-occupied commercial real estate, refinancing business debt, and buying an existing business.
Insurance and closing
Most SBA lenders require hazard and, where the collateral is real property, property insurance in place before closing. See commercial property insurance for businesses and ways to ensure your SBA loan closes smoothly.
Getting started in Portland
Check the eligibility requirements, run the numbers with the SBA 7(a) loan calculator, then get financing and we will route your inquiry to lending partners.