As an entrepreneur, receiving a loan backed by the Small Business Administration (SBA) is like a getting a driver’s license; it gives you the keys to a new realm of possibilities. Don’t let the term small in small business mislead you. To us, each SBA loan gives momentum to a growing and thriving business and in turn, to a growing and thriving community. Supporting small business owners is one of the most valuable things we can do as a community bank, and we want to do everything in our power to give small business owners and entrepreneurs the tools they need to succeed. Every business has a different story and goals, so a one-size-fits-all approach doesn’t cut it when it comes to accessing funding. That’s why we strive to provide customized solutions to fit each business so it can forge its future. From food trucks to carpenters, we are dedicated to helping Northwest businesses thrive.
We’ve grown from completing 67 SBA loans in 2017 to an astounding 283 loans in 2018, totaling over $46 million to directly connect Northwest small businesses with the funds they need to prosper. This dedication has earned us recognition by the SBA as a top three lender in both Washington and Oregon this year, and we intend on setting new records next year. Scott Bossom, senior vice president and manager of Columbia’s SBA program, attributes our growth to the commitment and focus we’ve demonstrated toward finding efficient and creative finance solutions for small business clients.
One such solution is often the utilization of Express Line of Credit, which targets loans as low as $5,000 and is an extremely streamlined and efficient option. Many banks acknowledge they aren’t great in providing small loans, but we have made a concerted effort to provide and grow the types of loans necessary to improve access to funding for small businesses in search of support on the lower end of the loan spectrum.
When you meet with one of our small business experts, we look for the best way to help you get where you need whether you’re launching or growing your business. We are here for you beyond a loan. If you are looking for funding that isn’t a loan, we can point you in the right direction of non-traditional lenders that may be the perfect solution your business. We can also help ascertain the best ways to obtain capital to start or improve a business other than through a traditional loan. Either way, talking to us will let us help you find the path that fits your business, even if it means not working directly with us.
Ultimately, we are focused on opening up more opportunities for businesses. In fact, we’ve made recent hires to solely focus on this objective, and we are using our network and contacts to help clients in any way possible. We will continue this enterprise and serve our community as the first destination for small businesses across the Northwest.
Providing small businesses with the kick-start they need – whether it’s a loan from us, advisement, or otherwise – is part of our DNA because it’s the right thing to do. We want to say “yes” and give you the keys when your business needs a loan so you can begin your journey on the road to new possibilities.
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