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April 30, 2024 |
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| Home > Small Business Lenders by State > Nevada Business Loan Sources > Las Vegas, Business Loans > Desert Community Bank Las Vegas Business Loans > Sporting And Recreational Goods And Supplies Merchant Wholesalers Loan | ||||
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Desert Community Bank
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SBA Loan from Desert Community Bank Helps Sporting And Recreational Goods And Supplies Merchant Wholesalers CompanyAn SBA loan from Desert Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Henderson, Nevada business owner got a $100,000 loan. Getting a small business loan in Henderson, Nevada was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Desert Community Bank, operating out of Las Vegas, Nevada. Here are the details on this Nevada small business loan. SBA Loan Borrower COMPANY TYPE: SPORTING AND RECREATIONAL GOODS AND SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender DESERT COMMUNITY BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program requires 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 423910 - Sporting and Recreational Goods and Supplies Merchant Wholesalers Loan Approval Date 2/2/2005 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. This loan was not for a franchise. At the time of the loan, the company had 16 employees. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Where to Get an SBA Loan in Las Vegas, Nevada
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