Featured Loan:
Eastbiz creates jobs with Oregon expansion

Eastbiz Corporation is a California corporation started in 2007 by Jan "John" Vanhara. Its customers are overseas companies that purchase goods in the United States. John recognized that while there is a strong overseas demand for US products, many domestic companies do not offer international shipment. His solution was to provide a US address for his overseas customers to use. Products are purchased online by the foreign client, using Eastbiz's address, which is their "virtual US address, as the ship to address. Once products are received at the Eastbiz's warehouses, they are in turn shipped to their final overseas destination.

Eastbiz Corporation currently provides shipping/consolidating services for overseas product shipment out of two warehouses located in Torrance, CA. Growth has been significant as the company has become better known and has expanded its services and carriers. The purpose of this SBA 504 loan was to provide permanent financing for the purchase of an existing 35,688 SF warehouse building located in Tualatin, OR. The project represents an expansion for this existing business and creates efficiencies in operations. It is also significantly less expensive than a similar property would be in Southern California, while offering good access to transportation and shipment services. A full second staff of 50 Full Time Employees will be hired and trained at this location.

Eastbiz choose to put more than 10% down to reduce the debt service.