SBA Lending

SBA 7(a) LOAN PROGRAM
SBA 504 LOANS
SBA EXPRESS

SMALL BUSINESS ADMINSITRATION ("SBA") LOANS

The Small Business Administration ("SBA") was established by Congress in 1953 to foster economic development and provide financial assistance to small businesses.

At Community Bank of Nevada we are dedicated to small business. Our SBA Programs allow us to offer loans for a variety of small business financing needs. Through a relationship with the Small Business Administration, Community Bank of Nevada is able to offer secured real estate financing with as little as 10% down for the purchase of owner-occupied real estate, and as little as 15% for construction financing.

Community Bank of Nevada has been designated as a member of SBA's Preferred Lender Program ("PLP"). This means that Community Bank of Nevada can approve certain loan requests on behalf of the SBA, which results in a quicker turn around time for loan approvals and funding. The SBA's Preferred Lender Program is designed for lending partners that have expertise in SBA lending products.

There are three SBA lending programs in which Community Bank of Nevada is authorized to participate:

SBA 7(a) LOAN PROGRAM

Eligibility:

Management must be experienced and of good character.
Must be able to demonstrate the ability to repay the loan with cash flow from the business operations
Must have adequate collateral

Type of Business:

Business must be organized for profit
Business must be a "small" business as defined by the SBA's size standards
Certain industries are not eligible for SBA financing (see your Community Bank of Nevada SBA Specialist for more details)

Loan Purpose/Use of Loan Proceeds:

Purchase an existing business
Expand an existing business
Equipment and machinery purchase
Inventory purchase
Tenant improvements
Working capital
Start a franchise or new business
Partner Buyout

Equity Requirements:

30% minimum for most start-up businesses
20% minimum for existing businesses, including franchises
10% minimum for most professional businesses such as medical, dental,
and veterinary practices

Loan Amounts:

Up to $2,000,000.00

Loan Repayment Terms:

Up to 10 years for purchase of fixed assets
Up to 7 years for working capital

Advantages of an SBA 7(a) Loan:

Lower down-payment requirements and longer amortization periods, which can mean lower monthly payments

SBA 504 LOANS

Under the SBA 504 loan program, long term loans to assist small businesses are made by a combination of private lenders and investors utilizing partial guarantees from the Small Business Administration. An approved lender such as Community Bank of Nevada makes the first lien loan and Certified Development Corporations are utilized to issue the secondary financing.

Eligibility:

Management must be experienced and of good character.
Must be able to demonstrate the ability to repay the loan with cash flow from the business operations
Owner occupancy requirements (applicable to real estate transactions)

Type of Business:

Business must be organized for profit
Business must be a "small" business as defined by the SBA's size standards
Certain industries are not eligible for SBA financing (see your Community Bank of Nevada SBA Specialist for more details)

Loan Purpose/Use of Loan Proceeds:

Purchase of owner-occupied commercial real estate*
Construction of owner-occupied commercial real estate*
Equipment and Machinery Purchase with a useful life of ten years or more

*Owner occupancy percentage required

Equity Requirements:

10% minimum for existing business
Up to 20% for start up businesses and/or special use properties

Loan Amounts:

Up to $10,000,000.00 of the total project*

*Restrictions apply

Loan Repayment Terms:

Up to 10 years for purchase of equipment
Up to 25 years for purchase or construction of commercial real estate

Advantages of an SBA 504 Loan:

Lower down-payment requirements
Long-term fixed interest rates
Longer terms with affordable monthly payments
Fully amortizing loans - no balloon payments due

SBA EXPRESS

SBA Express offers a simplified loan process for businesses that have been in operation for at least 18 months under the same ownership and possessing a filed tax return.

Use of Loan Proceeds:

Working capital
Equipment purchase
Inventory purchase

Loan Amounts:

Up to $350,000

Loan Repayment Terms:

Variable repayment terms for purchase of fixed assets
Variable repayment terms for working capital

PRACTICE FINANCING

We can offer our own practice financing to medical, veterinary and dental practices for the following purposes:

Purchase of real estate and purchase of existing practice, buyout of business partners or for working capital - up to 90%*
Refinancing balloon debt, equipment financing, and working capital - up to 100%

*Restrictions apply

Please contact any member of our experienced SBA lending team for details at (702) 878-0700.

SBA Lending Team

Monica Coburn, SVP SBA Loan Manager
Tom Shu, VP, SBA Loan Officer
Cassandra Smith, AVP, SBA Loan Officer
Michael Zufelt , AVP, SBA Business Development Officer
Vicki Tavarez, SBA Lending Assistant
Tara Scirbona, SBA Lending Assistant

Downloadable Forms

Business Loan Application (pdf - 51 KB)
Business Debt Schedule (pdf - 24 KB)
Business Profile (pdf - 48 KB)
Management Resume (pdf - 53 KB)
Personal Debt Schedule (pdf - 11 KB)
Personal Financial Statement (pdf - 25 KB)
SBA Loan Proposal Checklist (pdf - 31 KB)

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