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May 15, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Clovis, Business Loans > First Community Bank Clovis Business Loans > General Automotive Repair Loan | ||||
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How Hard Is It to Get a Small Business Loan in Clovis, New Mexico?
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Bank Loans for General Automotive RepairLooking for bank loans for general automotive repair? Try the SBA. This $232,000 general automotive repair loan was issued by a New Mexico bank. This company knew how to go about getting a business bank loan. Based in Clovis, New Mexico, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was First Community Bank, based in Clovis, New Mexico. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SBA Loan Lender FIRST COMMUNITY BANK This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811111 - General Automotive Repair Loan Approval Date 4/8/2005 Loan Approval Gross Amount $232,000 Loan Approval from the SBA Of the total $232,000 loan amount, the SBA guaranteed $174,000. 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 3 employees. The loan application did not indicate that the 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? Every year, the SBA guarantees over $10 billion for loans just like this one. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Community Bank and they will explain how you can get an SBA loan for your company. 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 - How to Borrow Money SBA Approved Banks in Clovis, New Mexico Getting an SBA Loan in New Mexico
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