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May 4, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Albuquerque, Business Loans > New Mexico Bank & Trust Albuquerque Business Loans > Gasket, Packing, And Sealing Device Manufacturing Loan | ||||
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Small Business Loans from New Mexico Bank & Trust
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SBA Loan from New Mexico Bank & Trust Helps Gasket, Packing, And Sealing Device Manufacturing CompanyNew Mexico Bank & Trust is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Mexico entrepreneur who tapped into the power of SBA loans. This growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with New Mexico Bank & Trust, out of Albuquerque, New Mexico. The loan was granted and they received $225,000 to help grow their Albuquerque, New Mexico business. SBA Loan Borrower COMPANY TYPE: GASKET, PACKING, AND SEALING DEVICE MANUFACTURING SBA Loan Lender NEW MEXICO BANK & TRUST Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 339991 - Gasket, Packing, and Sealing Device Manufacturing Loan Approval Date 3/27/2006 Loan Approval Gross Amount $225,000 Loan Approval from the SBA Of the total $225,000 loan amount, the SBA guaranteed $168,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 19 employees. This SBA loan request indicated that the loan would help retain 19 existing jobs. Start the Process for Getting an SBA Loan Today! If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great source of funding. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. New Mexico Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, New Mexico Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Microlending as a Small Business Funding Source SBA 7A Banks in Albuquerque, New Mexico Find an SBA Lender in New Mexico
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