Albuquerque, New Mexico Bank Lends Money to Beauty Salons Company in Albuquerque, New Mexico

Want to talk with an Albuquerque, New Mexico bank about an SBA loan? Here's one New Mexico business loan, issued by an Albuquerque bank, that was approved by the SBA.

Applying for an SBA loan with First Community Bank worked out well for our friends at one local firm in Albuquerque, New Mexico. They received an SBA loan for $83,600. Nice!

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
ALBUQUERQUE, NM 87110

SBA Loan Lender

FIRST COMMUNITY BANK
111 LOMAS NW
ALBUQUERQUE, NM 87102

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

812112 - Beauty Salons

Loan Approval Date

9/6/2001

Loan Approval Gross Amount

$83,600

Loan Approval from the SBA

Of the total $83,600 loan amount, the SBA guaranteed $71,060.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Community Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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