SBA Loan from City National Bank Helps Homefurnishings Stores Company

City National 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.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with City National Bank, out of Las Vegas, Nevada. The loan was granted and they received $93,600 to help grow their Las Vegas, Nevada business.

SBA Loan Borrower

COMPANY TYPE: HOMEFURNISHINGS STORES
LAS VEGAS, NV 89129

SBA Loan Lender

CITY NATIONAL BANK
6085 W TWAIN AVE
LAS VEGAS, NV 89103

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.

SIC Code

5719 - Homefurnishings Stores

Loan Approval Date

1/7/2000

Loan Approval Gross Amount

$93,600

Loan Approval from the SBA

Of the total $93,600 loan amount, the SBA guaranteed $74,880.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job 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. City National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, City National 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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