Bank 1st Gives SBA Loan to Analytical Laboratory Instrument Manufacturing Company

Would a New Mexico bank loan help help your firm avoid a serious cash crunch? 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 Albuquerque, New Mexico was a top priority for this loan applicant back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Bank 1st. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: ANALYTICAL LABORATORY INSTRUMENT MANUFACTURING
ALBUQUERQUE, NM 87109

SBA Loan Lender

BANK 1ST
2900 LOUISIANA BLVD NE, SO BL
ALBUQUERQUE, NM 87190

This lender issued this SBA business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

334516 - Analytical Laboratory Instrument Manufacturing

Loan Approval Date

7/13/2005

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $225,000.

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 only one employee. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $250,000 loan. Remember, if it to be, it is up to me!

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:

Obtaining Funding - Getting Venture Capital

SBA 7A Banks for Albuquerque, New Mexico Loans

Getting an SBA Loan in New Mexico