Las Vegas, Nevada Entrepreneur Gets a Small Business Loan

Would a Nevada bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Nevada bank, which offers SBA loans to Nevada entrepreneurs.

This company, based in Las Vegas, Nevada, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of Nevada. We've got the inside scoop on this Nevada small business loan.

SBA Loan Borrower

COMPANY TYPE: PET CARE SERVICES
LAS VEGAS, NV 89117

SBA Loan Lender

BANK OF NEVADA
777 N RAINBOW BLVD
LAS VEGAS, NV 89107

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812910 - Pet Care Services

Loan Approval Date

3/17/2003

Loan Approval Gross Amount

$46,300

Loan Approval from the SBA

Of the total $46,300 loan amount, the SBA guaranteed $39,355.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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.

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