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November 15, 2024 |
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| Home > Small Business Lenders by State > Nevada Business Loan Sources > North Las Vegas, Business Loans > 1st Commerce Bank North Las Vegas Business Loans > General Merchandise Stores Loan | ||||
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1st Commerce Bank SBA Loans
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SBA Loan from 1st Commerce Bank Helps General Merchandise Stores Company1st Commerce Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Nevada entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Las Vegas, Nevada was able to borrow $149,999 from 1st Commerce Bank. The SBA made the loan possible by guaranteeing $127,499 of this Nevada small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL MERCHANDISE STORES SBA Loan Lender 1ST COMMERCE BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA small business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 452990 - General Merchandise Stores Loan Approval Date 11/2/2005 Loan Approval Gross Amount $149,999 Loan Approval from the SBA Of the total $149,999 loan amount, the SBA guaranteed $127,499. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Borrowing Money from Friends and Family Who Lends Money to Small Businesses in North Las Vegas, Nevada
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