Gallup, New Mexico Entrepreneur Gets an SBA Loan

New MexicoBank loans are available to New Mexico firms through the SBA. In this case, a Texas bank provides the loan.

Getting a small business loan in Gallup, New Mexico was a top priority for this loan applicant back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: GROCERIES, GENERAL LINE
GALLUP, NM 87301

SBA Loan Lender

WELLS FARGO BANK
912 S HWY 183
AUSTIN, TX 78741

At the time this loan was granted, the lender was part of the SBA's Certified Lenders Program (CLP). This program aims 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

5141 - Groceries, General Line

NAICS Code

422410 - General Line Grocery Wholesalers

Loan Approval Date

7/26/2000

Loan Approval Gross Amount

$495,200

Loan Approval from the SBA

Of the total $495,200 loan amount, the SBA guaranteed $371,400.

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 14 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

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 Wells Fargo Bank 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.

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