Is It A Good Time To Get A Business Loan In Oregon?
Next in are coverage of State’s business loans program is Oregon. Oregon will start accepting business loans applications later this week due to their acceptance of over $16 million in federal funds. Oregon already has a strong business loan program and these latest funds elevate state caps to at least $165 million to help bolster the local economy.
Just as with other states, lenders are seeking Federal assistance to strengthen their positions as they try and get capital into the hands of those who need it most, small business owners. It is a kind way of saying that lenders are trying to reduce their risk exposure in difficult times, especially since they are under far greater scrutiny than in times past.
The buzz word in Oregon is jobs creation, so this program is getting a lot of public support. But, does the public really expect to be able to get a favorable business loan? Let’s hope not. First, as with any State program, applicants should be solid risks. The days of bailouts are over and anyone with less than stellar business credit or lack of a solid business plan, need not apply.
As harsh as this may sound it needs to be stated that federally backed business loans are not for everybody. In fact the average business borrower is not even close to being a candidate because of the tough choices they have made in order to keep their doors open. As much as they should be applauded for biting the bullet and shouldering the burden during dismal economic time, they will actually be punished.
Help is not on the way through the Oregon business loans program or any other. While it is true that these state programs that we so much about on the news have provided millions of dollars in favorable business loans to countless businesses over the years, they are not geared toward the average borrowers. What is good about them is they relay a positive message about the lending climate and subconsciously encourage those thinking about borrowing, to actually begin to investigate the process.
So How Do You Get A Business Loan?
Fortunately, getting a business loan is as easy as it has been all along. Even in a down economy, lenders are willing to lend, as long as you know how to ask. For the average business borrower with good personal credit, a business loan with favorable terms and even deferred interest payments are easy to secure. Seed Capital can guarantee a minimum of $50,000 in unsecured credit lines based on filling out the form to the right.
You do not have to worry if you have no established business credit or payment history because the Seed Capital program is designed to leverage personal credit into a strong PAYDEX score which will bring even more borrowing opportunities in the future. So if you are looking for a business loan in Oregon or anywhere else in the United States you just may be in luck.