Company Gets a New Mexico SBA Loan

SBA loans in New Mexico are tough to come by these days. We take a look at one New Mexico SBA loan, provided by a New Mexico bank, that was approved by the SBA.

Getting a small business loan in Albuquerque, New Mexico was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First Community Bank. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: CONFECTIONERY AND NUT STORES
ALBUQUERQUE, NM 87110

SBA Loan Lender

FIRST COMMUNITY BANK
620 REINKEN AVE
BELEN, NM 87002

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445292 - Confectionery and Nut Stores

Loan Approval Date

7/2/2002

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Community Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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