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May 11, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Artesia, Business Loans > The First National Bank Artesia Business Loans > Full-Service Restaurants Loan | ||||
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SBA Lenders for Las Cruces Small Businesses
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Full-Service Restaurants SBA LoansLooking for SBA loans for full-service restaurants? Try the SBA. This $98,700 full-service restaurants loan was issued by a New Mexico bank. This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with The First National Bank, out of Artesia, New Mexico. The loan was granted and they received $98,700 to help grow their Las Cruces, New Mexico business. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender THE FIRST NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/12/2007 Loan Approval Gross Amount $98,700 Loan Approval from the SBA Of the total $98,700 loan amount, the SBA guaranteed $74,025. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 23 employees. This SBA loan request indicated that the loan would help generate 7 new jobs and retain 30 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The First National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The First National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Artesia, New Mexico Loans
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