Borrowing Money for Automotive Body, Paint, and Interior Repair and Maintenance

With these loans for automotive body, paint, and interior repair and maintenance, the SBA guarantees the lender that the loan will be repaid. This automotive body, paint, and interior repair and maintenance loan for $388,400 was given to a New Mexico entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Albuquerque, New Mexico was able to borrow $388,400 from First Community Bank. The SBA made the loan possible by guaranteeing $291,300 of this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
Albuquerque, NM 87112

SBA Loan Lender

FIRST COMMUNITY BANK
120 W PLAZA
TAOS, NM 87571

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

11/29/2007

Loan Approval Gross Amount

$388,400

Loan Approval from the SBA

Of the total $388,400 loan amount, the SBA guaranteed $291,300.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 21 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 21 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Albuquerque NM, you ought to talk with a local Albuquerque SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Albuquerque businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Community Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Obtaining Funding - Friends and Family

SBA Participating Banks in Taos, New Mexico

New Mexico SBA 7A Lenders