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April 29, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Albuquerque, Business Loans > Compass Bank Albuquerque Business Loans > Land Subdividers And Developers Loan | ||||
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Albuquerque SBA Loans
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Growing Company Gets a New Mexico Bank LoanNew MexicoBank loans are available to New Mexico firms through the SBA. In this case, a New Mexico bank provides the loan. Getting a small business loan in Albuquerque, New Mexico was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Compass Bank. Here are the details on this New Mexico small business loan. SBA Loan Borrower COMPANY TYPE: LAND SUBDIVIDERS AND DEVELOPERS SBA Loan Lender COMPASS 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 6552 - Land Subdividers and Developers NAICS Code 541370 - Surveying and Mapping Services Loan Approval Date 1/16/2001 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $59,500. 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 10 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Compass Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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 Banks for Albuquerque, New Mexico Loans
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