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May 18, 2024 |
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| Home > Small Business Lenders by State > Nevada Business Loan Sources > Reno, Business Loans > Nevada Security Bank Reno Business Loans > Construction, Mining, And Forestry Machinery Equipment Rental And Leasing Loan | ||||
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What Does It Take to Get a Business Loan in Reno, Nevada?
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Getting an SBA Loan for Construction, Mining, and Forestry Machinery Equipment Rental and LeasingWith these commercial loans for construction, mining, and forestry machinery equipment rental and leasing, the SBA guarantees the lender that the loan will be repaid. This construction, mining, and forestry machinery equipment rental and leasing loan for $100,000 was given to a Nevada entrepreneur in 2003. This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Nevada Security Bank, out of Reno, Nevada. The loan was granted and they received $100,000 to help grow their Reno, Nevada business. SBA Loan Borrower COMPANY TYPE: CONSTRUCTION, MINING, AND FORESTRY MACHINERY EQUIPMENT RENTAL AND LEASING SBA Loan Lender NEVADA SECURITY BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 532412 - Construction, Mining, and Forestry Machinery Equipment Rental and Leasing Loan Approval Date 5/16/2003 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business If you need business start up money 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Nevada Security Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Nevada Security 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. Related Links: SBA 7A Banks for Reno, Nevada Loans
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