Loans for Radio, Television, and Electronics Stores

With these loans for radio, television, and electronics stores, the SBA guarantees the lender that the loan will be repaid. This radio, television, and electronics stores loan for $50,000 was given to a New Mexico entrepreneur in 2001.

Getting a small business loan in Albuquerque, New Mexico was important for this growing firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from New Mexico Bank & Trust, operating out of Rio Rancho, New Mexico. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
ALBUQUERQUE, NM 87110

SBA Loan Lender

NEW MEXICO BANK & TRUST
4001 SOUTHERN BLVD SE
RIO RANCHO, NM 87124

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.

SIC Code

7389 - Business Services

NAICS Code

443112 - Radio, Television, and Electronics Stores

Loan Approval Date

3/1/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Strategic Investors

Small Bank Loans in Rio Rancho, New Mexico

SBA New Mexico Banks