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April 27, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Albuquerque, Business Loans > Western Commerce Bank Albuquerque Business Loans > Document Preparation Services Loan | ||||
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How to Get SBA Loans in Los Lunas, New Mexico
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Document Preparation Services Bank LoansLooking for bank loans for document preparation services? Try the SBA. This $35,000 document preparation services loan was issued by a New Mexico bank. This small firm knew how to go about getting a business bank loan. Based in Los Lunas, New Mexico, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Western Commerce Bank, based in Albuquerque, New Mexico. SBA Loan Borrower COMPANY TYPE: DOCUMENT PREPARATION SERVICES SBA Loan Lender WESTERN COMMERCE BANK 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 561410 - Document Preparation Services Loan Approval Date 3/18/2003 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $29,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Western Commerce Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Determining Proper Capital Structure for a Business Find an SBA Lender in Albuquerque, New Mexico
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