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May 16, 2024 |
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| Home > Small Business Lenders by State > Nevada Business Loan Sources > Reno, Business Loans > Heritage Bank Of Nevada Reno Business Loans > Management Services Loan | ||||
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Reno, Nevada Bank Loan
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Reno, Nevada Entrepreneur Gets an SBA LoanSBA loans in Nevada are tough to come by these days. We take a look at one Nevada SBA loan, provided by a Nevada bank, that was approved by the SBA. By giving the right information to Heritage Bank Of Nevada, this Reno, Nevada business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: MANAGEMENT SERVICES SBA Loan Lender HERITAGE BANK OF NEVADA When it made this small business loan, the lender was part of the SBA's Certified Lenders Program (CLP). This program was created to provide fast service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8741 - Management Services Loan Approval Date 5/31/2000 Loan Approval Gross Amount $794,500 Loan Approval from the SBA Of the total $794,500 loan amount, the SBA guaranteed $595,875. 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 2 employees. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Heritage Bank Of Nevada and they will explain how you can get an SBA loan for your company. 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 SBA Participating Banks in Nevada
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