Where to Get Capital for Used Merchandise Stores

With these SBA loans for used merchandise stores, the SBA guarantees the lender that the loan will be repaid. This used merchandise stores loan for $50,000 was given to a Nevada entrepreneur in 2002.

This business knew how to go about getting a business bank loan. Based in Mesquite, Nevada, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Sunfirst Bank, based in Saint George, Utah.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
MESQUITE, NV 89027

SBA Loan Lender

SUNFIRST BANK
120 E ST. GEORGE BLVD
SAINT GEORGE, UT 84770

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453310 - Used Merchandise Stores

Loan Approval Date

4/23/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Sunfirst Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Sunfirst Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Financing Your Business

Good Banks for Small Business in Saint George, Utah

Utah SBA 7A Banks