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May 18, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Las Cruces, Business Loans > The First National Bank Las Cruces Business Loans > Eating Places Loan | ||||
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New Mexico Bank SBA Loans
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The First National Bank SBA Loan to Eating Places CompanyWant a New Mexico SBA loan? Here's one New Mexico business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Las Cruces, New Mexico was able to borrow $150,000 from The First National Bank. The SBA made the loan possible by guaranteeing $112,500 of this New Mexico small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender THE FIRST NATIONAL BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 7/19/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. More Information on This SBA Loan The borrower borrowed this money for a new 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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Small Business Banks in Las Cruces, New Mexico
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