Manufactured Home Manufacturing Business Loans

With these business loans for manufactured home manufacturing, the SBA guarantees the lender that the loan will be repaid. This manufactured home manufacturing loan for $31,500 was given to a New Mexico entrepreneur in 2003.

Getting a small business loan in Silver City, New Mexico was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Western Bank, operating out of Silver City, New Mexico. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURED HOME MANUFACTURING
SILVER CITY, NM 88062

SBA Loan Lender

WESTERN BANK
333 HWY 180 WEST
SILVER CITY, NM 88062

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.

NAICS Code

321991 - Manufactured Home Manufacturing

Loan Approval Date

11/10/2003

Loan Approval Gross Amount

$31,500

Loan Approval from the SBA

Of the total $31,500 loan amount, the SBA guaranteed $26,775.

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 6 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $31,500 loan. Remember, where there is a will, there is a way!

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:

Accountant's Role in Securing Financing

Small Business Banks in Silver City, New Mexico

Getting an SBA Loan in New Mexico