Round Mountain, Nevada Business Gets SBA-Guaranteed Funding from Nevada State Bank

Nevada State 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.

Getting a small business loan in Round Mountain, Nevada was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Nevada State Bank, operating out of West Valley City, Utah. Here are the details on this Nevada small business loan.

SBA Loan Borrower

COMPANY TYPE: TIRE RETREADING AND REPAIR SHOPS
ROUND MOUNTAIN, NV 89045

SBA Loan Lender

NEVADA STATE BANK
2200 S 3270 WEST
WEST VALLEY CITY, UT 84119

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

SIC Code

7534 - Tire Retreading and Repair Shops

Loan Approval Date

1/6/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Nevada State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Nevada State 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.

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