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May 14, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Las Cruces, Business Loans > Citizens Bank Of Las Cruces Las Cruces Business Loans > Cottman Transmission Systems Loan | ||||
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I Need an SBA Loan to Buy a Franchise in Las Cruces, New Mexico
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New Mexico Entrepreneur Secures Financing to Buy Cottman Transmission FranchiseBorrowing money to purchase a Cottman Transmission franchise? Citizens Bank Of Las Cruces has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Las Cruces, New Mexico needed money to invest in a Cottman Transmission franchise back in 2002. Citizens Bank Of Las Cruces issued an SBA franchise loan. Here are the details on this New Mexico small business loan. SBA Loan Borrower COTTMAN TRANSMISSION SYSTEMS SBA Loan Lender CITIZENS BANK OF LAS CRUCES This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811113 - Automotive Transmission Repair Loan Approval Date 9/20/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Cottman Transmission franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: SBA 7A Banks for Las Cruces, New Mexico Loans
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