Umpqua Bank offers a small business lending program

Umpqua Bank recently announced the launch of a new loan program targeted at small businesses looking to borrow $10,000 – $100,000 and who typically do not meet the standard underwriting requirements. The program will be offered throughout Umqpua’s current Northern California, Oregon and Washington service network.

Umpqua’s new approach to small business lending products will automatically cause the bank to take a second look at declined loan applications, to see if they meet new underwriting criteria of the initiative, dubbed MainStreet Small Business Lending.

Umpqua Bank CEO Ray Davis says, “Over the past several years, many small businesses have found it difficult to obtain the bank loans they need to run their companies, often for reasons beyond their control,” and now Umpqua is here with a product and lending tool to fill void.

The City of Portland appreciates Umpqua’s efforts to generate and support small business, especially since 92 percent of all business in Portland is conducted by small business.

Reprinted from portlandonline.com