Reno, Nevada Bank Lends Money to Limited-Service Restaurants Company in Sun Valley, Nevada

Get to know Reno, Nevada banks that specialize in SBA loans and know how to work with entrepreneurs. Nevada Security Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Sun Valley, Nevada starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Nevada Security Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SUN VALLEY, NV 89433

SBA Loan Lender

NEVADA SECURITY BANK
3490 S VIRGINIA ST
RENO, NV 89502

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

722211 - Limited-Service Restaurants

Loan Approval Date

6/11/2002

Loan Approval Gross Amount

$123,400

Loan Approval from the SBA

Of the total $123,400 loan amount, the SBA guaranteed $104,890.

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 5 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Nevada Security Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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