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May 4, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Alamogordo, Business Loans > Western Bank Alamogordo Business Loans > Masonry, Stone Setting, And Other Stone Work Loan | ||||
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Business Loans for Alamogordo Businesses
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Business Loans for Masonry and Stone ContractorsLooking for business loans for masonry and stone contractors? The SBA may be the answer. This $100,000 masonry and stone contractors loan was issued by a New Mexico bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Alamogordo, New Mexico was able to borrow $100,000 from Western Bank. The SBA made the loan possible by guaranteeing $80,000 of this New Mexico small business loan. SBA Loan Borrower COMPANY TYPE: MASONRY, STONE SETTING, AND OTHER STONE WORK SBA Loan Lender WESTERN BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1741 - Masonry, Stone Setting, and Other Stone Work NAICS Code 235410 - Masonry and Stone Contractors Loan Approval Date 10/25/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. More Information on This SBA Loan The borrower borrowed this money for an existing 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 15 employees. The loan application did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Western Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Banking Deregulation's Effects on Entrepreneurship Find an SBA Lender in Alamogordo, New Mexico SBA Participating Banks in New Mexico
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