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May 14, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Elephant Butte, Business Loans > Bank Of The Southwest Elephant Butte Business Loans > Motorcycle Dealers Loan | ||||
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SBA Lender Elephant Butte
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Elephant Butte, New Mexico Bank Gives SBA Loan to Motorcycle Dealers CompanyThinking about meeting with an Elephant Butte, New Mexico bank about a business loan? Here's one New Mexico business loan, issued by an Elephant Butte bank, that was approved by the SBA. Applying for an SBA loan with Bank Of The Southwest worked out well for our friends at one local firm in Arrey, New Mexico. They got an SBA loan for $40,000. Nice! SBA Loan Borrower COMPANY TYPE: MOTORCYCLE DEALERS SBA Loan Lender BANK OF THE SOUTHWEST This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5571 - Motorcycle Dealers NAICS Code 441221 - Motorcycle, ATV, and Personal Watercraft Dealers Loan Approval Date 5/2/2000 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $32,000. 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 3 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of The Southwest are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Borrowing Money from Friends and Family Small Bank Loans in Elephant Butte, New Mexico SBA Participating Banks in New Mexico
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