Reno, Nevada Business Gets SBA-Guaranteed Funding from Nevada State Bank

Nevada State Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Nevada entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Reno, Nevada was able to borrow $411,000 from Nevada State Bank. The SBA made the loan possible by guaranteeing $308,250 of this Nevada small business loan.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
RENO, NV 89511

SBA Loan Lender

NEVADA STATE BANK
750 E WARM SPRINGS RD, STE 40
LAS VEGAS, NV 89119

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

11/2/2006

Loan Approval Gross Amount

$411,000

Loan Approval from the SBA

Of the total $411,000 loan amount, the SBA guaranteed $308,250.

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 only one employee. The loan application indicated that the loan would help generate 10 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Reno NV, you ought to talk with a local Reno SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Reno businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $411,000 loan. Remember, you control your own destiny.

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:

How to Raise Money

SBA 7A Banks in Las Vegas, Nevada

SBA Participating Banks in Nevada