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May 17, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Hobbs, Business Loans > The First National Bank Hobbs Business Loans > Automotive Transmission Repair Loan | ||||
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Small Business Banks That Lend to New Mexico Small Business Owners
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The First National Bank Gives Small Business Loan to Automotive Transmission Repair CompanyNew MexicoSmall business loans are available to New Mexico small business owners through the SBA. In this case, a New Mexico bank provides the loan. This business, based in Hobbs, New Mexico, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from The First National Bank. We've got the inside scoop on this New Mexico small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE TRANSMISSION REPAIR SBA Loan Lender THE FIRST NATIONAL BANK 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 811113 - Automotive Transmission Repair Loan Approval Date 10/17/2002 Loan Approval Gross Amount $38,500 Loan Approval from the SBA Of the total $38,500 loan amount, the SBA guaranteed $32,725. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide smart, affordable business financing for small businesses looking to expand. We can help you find the best banks for small businesses in Hobbs or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Family and Friend Investors - Your First Financiers Small Business Banks in Hobbs, New Mexico
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