SBA Loan from American Heritage Bank Helps Lawyers Company
An SBA loan from American Heritage Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Clovis, New Mexico business owner got a $54,980 loan.
This growing company knew how to go about getting a business bank loan. Based in Clovis, New Mexico, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was American Heritage Bank, based in Clovis, New Mexico.
SBA Loan Borrower
COMPANY TYPE: LAWYERS
CLOVIS, NM 88101
SBA Loan Lender
AMERICAN HERITAGE BANK
2108 N MAIN
CLOVIS, NM 88101
This loan for a small business 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
541110 - Lawyers
Loan Approval Date
3/20/2007
Loan Approval Gross Amount
$54,980
Loan Approval from the SBA
Of the total $54,980 loan amount, the SBA guaranteed $46,733.
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 only one employee. This SBA loan request indicated that the funding would help generate 1 new job.
Next Steps for Getting an SBA Loan
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.
If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from American Heritage 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.
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