Alamogordo, New Mexico Entrepreneur Gets a Business Loan

Would a New Mexico SBA loan help your business get to the next level? If so, you may want to talk with this New Mexico bank, which offers SBA loans to New Mexico entrepreneurs.

Getting a small business loan in Alamogordo, New Mexico was a top priority for this particular business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Western Bank. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
ALAMOGORDO, NM 88310

SBA Loan Lender

WESTERN BANK
500 9TH & MARYLAND
ALAMOGORDO, NM 88310

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

6/25/2004

Loan Approval Gross Amount

$270,000

Loan Approval from the SBA

Of the total $270,000 loan amount, the SBA guaranteed $202,500.

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 only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Alamogordo NM, you ought to talk with a local Alamogordo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Alamogordo businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Getting a Small Business Loan

SBA 7A Banks in Alamogordo, New Mexico

Where to Get an SBA Loan New Mexico