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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Las Vegas, Business Loans > Citibank Las Vegas Business Loans > Store Retailers Loan | ||||
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Banks Doing SBA Loans in Nevada
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Entrepreneur Works With Las Vegas, Nevada Bank to Get an SBA LoanFind Las Vegas, Nevada banks that specialize in SBA loans and know how to work with entrepreneurs. Citibank is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Oxnard, California starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Citibank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: STORE RETAILERS SBA Loan Lender CITIBANK The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 453998 - Store Retailers Loan Approval Date 11/21/2006 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 25 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 25 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Family and Friend Investors - Your First Financiers SBA Approved Banks in Las Vegas, Nevada
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