Nevada Entrepreneur Secures Financing to Buy Post Net Franchise

Borrowing money to buy a Post Net franchise? Community Bank Of Nevada has a history of making these loans and they are guaranteed by the SBA.

Post Net franchise loans are available to Henderson, Nevada entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Community Bank Of Nevada, based in Las Vegas, Nevada, issued an SBA franchise loan for a Post Net franchise in 2002. We've got all the details on this Nevada small business loan.

SBA Loan Borrower

POST NET EXPRESS
HENDERSON, NV 89015

SBA Loan Lender

COMMUNITY BANK OF NEVADA
400 S 4TH ST, STE 215
LAS VEGAS, NV 89101

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561431 - Private Mail Centers

Loan Approval Date

10/11/2002

Loan Approval Gross Amount

$53,400

Loan Approval from the SBA

Of the total $53,400 loan amount, the SBA guaranteed $45,390.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Post Net franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

PostNet Postal & Business Services

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Best Las Vegas, Nevada Banks for Small Business

SBA Participating Banks in Nevada