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May 18, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Taos, Business Loans > First Community Bank Taos Business Loans > Furniture Stores Loan | ||||
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Banks Doing SBA Loans in New Mexico
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Taos, New Mexico Bank Gives SBA Loan to Furniture Stores CompanyWant to talk with a Taos, New Mexico bank about an SBA loan? Here's one New Mexico business loan, issued by a Taos bank, that was approved by the SBA. Applying for an SBA loan with First Community Bank worked out well for our friends at one local company in Corrales, New Mexico. They received an SBA loan for $790,000. Nice! SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender FIRST COMMUNITY BANK This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 442110 - Furniture Stores Loan Approval Date 11/13/2003 Loan Approval Gross Amount $790,000 Loan Approval from the SBA Of the total $790,000 loan amount, the SBA guaranteed $592,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 20 new jobs and retain 22 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Community Bank 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:
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