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May 18, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Las Cruces, Business Loans > Bank - Rio Grande Las Cruces Business Loans > Motor Vehicle Supplies And New Parts Wholesalers Loan | ||||
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SBA Lenders in New Mexico
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Getting an SBA Loan for Motor Vehicle Supplies and New Parts WholesalersLooking for commercial loans for motor vehicle supplies and new parts wholesalers? The SBA may be the answer. This $100,000 motor vehicle supplies and new parts wholesalers loan was issued by a New Mexico bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Las Cruces, New Mexico was able to borrow $100,000 from Bank - Rio Grande. The SBA made the loan possible by guaranteeing $85,000 of this New Mexico small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS WHOLESALERS SBA Loan Lender BANK - RIO GRANDE This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421120 - Motor Vehicle Supplies and New Parts Wholesalers Loan Approval Date 10/23/2002 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank - Rio Grande and they will explain how you can get an SBA loan for your company. 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 Lenders in Las Cruces, New Mexico
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