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May 18, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Roswell, Business Loans > Bank Of The Southwest Roswell Business Loans > Child Day Care Services Loan | ||||
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New Mexico Small Business SBA Loans
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Bank Of The Southwest Gives SBA Loan to Child Day Care Services CompanyNew MexicoSBA loans are available to New Mexico entrepreneurs through the SBA. In this case, a New Mexico bank provides the loan. You can learn something about getting a small business loan in Las Cruces, New Mexico by studying this loan to a local business, made back in 2005. Banks like Bank Of The Southwest may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender BANK OF THE SOUTHWEST This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 624410 - Child Day Care Services Loan Approval Date 6/1/2005 Loan Approval Gross Amount $26,000 Loan Approval from the SBA Of the total $26,000 loan amount, the SBA guaranteed $13,000. 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 24 employees. The SBA loan application for the borrower indicated that the loan would help retain 24 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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 Bank Of The Southwest 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: Advice on Getting a Small Business Loan SBA Approved Banks in Roswell, New Mexico Getting an SBA Loan in New Mexico
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