Oregon small business lenders offer the capital companies need for long-term growth.
You’re our first priority. We want you to understand how we make money. This post may contain affiliate links. Biglaw Investor may receive a commission at no additional cost to you if you click on the links in this article. This may influence which products we write about and where and how the products appear on a page. However, it does not influence our evaluations. Our opinions are our own. In some circumstances, if you work with us, we are able to provide an incentive to work with our advertising partners that is unavailable if you work with our advertising partners directly. Our partners cannot pay us to guarantee favorable reviews of their products or services. To read more about how we make money, click here.
Biglaw Investor connects you with small business lenders who can help you expand your business, whether through working capital or via acquisition. A small business loan loan is a great way to grow your business—but it can be hard to know where to start. Our small business lenders offer an experience specially tailored to your goals.
Offered exclusively through Biglaw Investor, we make it incredibly simple to find the best loan for your business needs.
I’m an associate at a firm in Houston and used JD Mortgage thanks to your advice! The experience was great—they were super fast and responsive.” —Mary Kate Raffetto Beck Redden LLP
For a JD Mortgage, I had good luck with IBERIABank. [They] made this process very smooth.” —Clint Cowan Lynn Pinker Hurst & Schwegmann
Oregon is a Pacific Northwest state located in the western portion of the country. It sits along the Pacific Ocean, Snake River, and Columbia River, offering incredible amenities and a higher quality lifestyle for the many people who live here. A large state, Oregon, is home to 4.2 million people. Noted for its diverse landscapes, many waterways, coastal beauty, and densely forested areas, Oregon is a treasure for those that love spending time outdoors. The Beaver State could also be the ideal place for small businesses thanks to its diverse economy and strong workforce. For many reasons, Oregon is an ideal place to live and work.
The economy in Oregon is rather diverse. A large part of it is in lumber production, as it is the largest lumber producer in the country. The state also has a strong technology industry as well as some manufacturing, industrial design, and healthcare. Big companies like Nike, Inc, Tektronix, and Intel call it home. While there are a lot of bigger organizations that utilize Oregon as their home, the state also has a large number of small business owners. There are 402,928 small businesses in the state as of October 2022, data from the U.S. Small Business Administration. These businesses are a critical tool for the region providing 893,405 jobs and generating a payroll of $39,264,582 to support households.
More so, small business lenders in Oregon help to provide the financial support companies need to grow in the state. There are currently 2432 small business loans active in Oregon, according to the last three years of data from the U.S. Small Business Administration. Those loans have a total value of $1,524,589,794, with the average loan size in the state being $626,987. Those funds are a critical tool in helping to fund the growth and development of companies throughout the state.
As a small business, it is often necessary to turn to loans to help with the funding of growth, development, expansion, or modernization. Small business lenders in Oregon help to ensure companies like this have access to the capital they need. That capital is vital to support the ongoing growth and needs of these companies.
Small business loans are versatile. They often provide borrowers with a capital infusion one time and then require repayment over a period of years, sometimes as long as 15 years. The borrower repays the amount borrowed along with interest, most often on a monthly basis. Lenders benefit because of the interest they collect, but there is risk involved in this process. That is one reason many of these loans are backed by the federal government.
To qualify for a small business loan in Oregon, companies first must prove that they have the financial means to repay the money borrowed. To do that, they often need to provide information about the company, including a business plan outlining the company’s structure, products, marketing efforts, competition, and overall financial health. Most lenders need to see balance sheets and profit and loss sheets to understand the company’s overall revenue.
Aside from all of this, interest rates and loan availability often come down to the company’s credit history. If the company does not have a strong, established credit history, lenders will often use the owner’s credit history.
If approved for an Oregon small business loan, companies can use those funds for many of their needs, such as purchasing equipment, hiring employees, and launching new products. Some loan types that are commonly available here include:
Most businesses do not qualify for all of these loans, but there are enough small business lenders in Oregon to offer funding for most companies, dependent on their ability to qualify. There is a lot of competition here from lenders, which helps to reduce interest rates. Yet, the qualifications of the company and its ability to repay the debt it obtains are key to qualifying for a loan.
Because of their versatility and the overall benefits they offer, small business loans in Oregon are critical to many companies. To obtain them, most borrowers should spend some time comparing lenders, loans, terms, and conditions to determine which offers the best overall structure for the company’s needs.
For entrepreneurs with startups, business loans are usually hard to come by because of their requirements of revenue and a method to repay. This often doesn’t work for new business owners who don’t yet have traction. Instead, these entrepreneurs might use credit cards. New nonprofit directors, however, may be able to get help from grant programs, but even then, most grants want to see evidence of success already.
Looking into things like microloans or business grants may be better, especially if you can work with a local economic development office or small business development center. After you’ve established your company, however, you may need help from business financing initiatives like direct loans. Financing options with loans typically mean working with financial institutions like credit unions or banks in the state of Oregon.
| Rank | Bank Name | # of Oregon Loans | Avergage Interest Rate | Average Loan Size |
|---|---|---|---|---|
| 1 | Columbia State Bank | 178 | 5.69% | $120,957 |
| 2 | U.S. Bank | 89 | 6.03% | $267,929 |
| 3 | KeyBank | 55 | 5.76% | $608,516 |
| 4 | Wells Fargo Bank | 47 | 6.58% | $542,136 |
| 5 | Pacific Western Bank | 46 | 4.83% | $1,574,030 |
| 6 | Live Oak Bank | 35 | 5.13% | $1,540,257 |
| 7 | Banner Bank | 33 | 4.87% | $158,182 |
| 8 | Umpqua Bank | 27 | 5.24% | $1,156,863 |
| 9 | United Midwest Savings Bank | 22 | 5.80% | $659,905 |
| 10 | Readycap Lending | 21 | 5.32% | $1,228,119 |
Starting in 1993 as a community Bank, Columbia Bank now has over 145 branches in Washington, Idaho, and Oregon. By providing services such as wealth management, small business loans, and personal and business checking and savings, Columbia State Bank can meet almost all of its customer’s needs.
We reached out to Columbia State Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
First coming into existence in 1863 as the First National Bank of Cincinnati, U.S. Bank now operates in 26 states across the country. U.S. Bank offers a number of products and services to meet customers’ needs, including small business loans and personal banking solutions, including checking and savings.
We reached out to U.S. Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
KeyBank is headquartered in Cleveland, Ohio, and offers a wide range of banking and investment products to meet the needs of its members. KeyBank provides services for businesses and individuals with products such as small business loans and personal and business checking and savings to meet all of its customers’ needs.
We reached out to KeyBank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Wells Fargo Bank was started in 1852 by Henry Wells and William G. Fargo as a bank to help customers build business and manage money. Wells Fargo Bank offers many products through its many branches to meet customers’ needs, including mortgages, wealth management, and personal and small business banking.
We reached out to Wells Fargo Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
A community focused bank with 69 branches located in California, Colorado, and North Carolina, Pacific Western Bank is able to reach and serve all of its customers to meet their needs. Having over $41 billion in assets, Pacific Western Bank can work to provide the loans its customers need.
We reached out to Pacific Western Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Loans are important, but so is information and knowledge. For a company that is in need of guidance, support, or just instruction on how to build in Oregon, it helps to have access to a few key resources.
The Small Business Administration in Oregon is a good starting point. This organization offers a website packed full of information on business formation, compliance requirements, taxation rules, and lending. There is no cost to the company to use this information if they are based in Oregon. Connect with local offices in Bend, Oregon as well.
Another resource is SCORE. Also, with offices in Bend, this organization provides free, no obligation support to companies who are looking for guidance in areas such as growth, expanding production, building marketing and branding, and many other areas. It is even possible to find a mentor, a highly successful and influential business leader, to offer free guidance and support for a business.
If you want to find the best small business loans in other states, click on your state below.
Joshua Holt is a lawyer and founder of Biglaw Investor. He spent 10 years practicing private equity mergers & acquisition law for one of the largest law firms in the country. As part of his practice, he advised small and medium sized businesses on matters ranging from business loans to the acquisitions and divestitures of stocks and assets.
One email each week covers personal finance, financial independence, investing and other stuff for lawyers that makes you better.
Biglaw Investor is helping thousands of lawyers manage and eliminate student loans and make great investment decisions. We’re on a mission to help every lawyer achieve financial independence.