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May 18, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Grants, Business Loans > Grants State Bank Grants Business Loans > Septic Tank And Related Services Loan | ||||
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SBA Lenders in Grants, New Mexico
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Grants, New Mexico Business Gets SBA-Guaranteed Funding from Grants State BankAn SBA loan from Grants State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Grants, New Mexico business owner got a $107,000 loan. This growing company knew how to go about getting a business bank loan. Based in Grants, New Mexico, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Grants State Bank, based in Grants, New Mexico. SBA Loan Borrower COMPANY TYPE: SEPTIC TANK AND RELATED SERVICES SBA Loan Lender GRANTS STATE BANK This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 562991 - Septic Tank and Related Services Loan Approval Date 6/26/2003 Loan Approval Gross Amount $107,000 Loan Approval from the SBA Of the total $107,000 loan amount, the SBA guaranteed $90,950. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: SBA 7A Lenders in Grants, New Mexico
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