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May 17, 2024 |
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| Home > Small Business Lenders by State > Nevada Business Loan Sources > Las Vegas, Business Loans > Community Bank Of Nevada Las Vegas Business Loans > Full-Service Restaurants Loan | ||||
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Tips for Entrepreneurs On Getting a Loan
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How to Get a Loan for Full-Service RestaurantsWith these business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $566,000 was given to a Nevada entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Las Vegas, Nevada was able to borrow $566,000 from Community Bank Of Nevada. The SBA made the loan possible by guaranteeing $424,500 of this Nevada small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender COMMUNITY BANK OF NEVADA This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 10/25/2006 Loan Approval Gross Amount $566,000 Loan Approval from the SBA Of the total $566,000 loan amount, the SBA guaranteed $424,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in 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 17 new jobs and retain 21 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Best Banks in Las Vegas, Nevada
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