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May 17, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Rio Rancho, Business Loans > New Mexico Bank & Trust Rio Rancho Business Loans > Full-Service Restaurants Loan | ||||
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New Mexico SBA Banks
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Rio Rancho, New Mexico Bank Gives SBA Loan to Full-Service Restaurants CompanyA Rio Rancho, New Mexico small business loan can be yours. Learn how a company got a $25,000 business loan from this New Mexico bank. This loan to an entrepreneur is a good example of an SBA loan. New Mexico Bank & Trust made the loan and the SBA guaranteed a portion of the loan. Many other New Mexico entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender NEW MEXICO BANK & TRUST This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 1/10/2002 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $21,250. 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 16 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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 Banks in Rio Rancho, New Mexico
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