Borrowing Money for Chemical and Allied Products Merchant Wholesalers

Looking for loans for chemical and allied products merchant wholesalers? An SBA loan may be just what you've been looking for. This $66,000 chemical and allied products merchant wholesalers loan was issued by a New Mexico bank.

This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with The Bank Of Clovis, out of Clovis, New Mexico. The loan was granted and they received $66,000 to help grow their Clovis, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: CHEMICAL AND ALLIED PRODUCTS MERCHANT WHOLESALERS
CLOVIS, NM 88101

SBA Loan Lender

THE BANK OF CLOVIS
300 N MAIN ST
CLOVIS, NM 88101

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424690 - Chemical and Allied Products Merchant Wholesalers

Loan Approval Date

9/15/2004

Loan Approval Gross Amount

$66,000

Loan Approval from the SBA

Of the total $66,000 loan amount, the SBA guaranteed $56,100.

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 only one employee. The SBA loan documents did not indicate that the business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money in Clovis NM, you ought to talk with a local Clovis SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Clovis businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Bank Of Clovis 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.

Related Links:

Getting a Small Business Loan

SBA 7A Banks for Clovis, New Mexico Loans

New Mexico SBA 7A Lenders