Albuquerque, New Mexico Business Gets SBA-Guaranteed Funding from First Community Bank
First Community Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Mexico entrepreneur who tapped into the power of SBA loans.
Getting a small business loan in Albuquerque, New Mexico was an essential business goal for this company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First Community Bank, operating out of Taos, New Mexico. Here are the details on this New Mexico small business loan.
SBA Loan Borrower
COMPANY TYPE: DENTISTS
ALBUQUERQUE, NM 87106
SBA Loan Lender
FIRST COMMUNITY BANK
120 W PLAZA
TAOS, NM 87571
This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
621210 - Dentists
Loan Approval Date
10/7/2005
Loan Approval Gross Amount
$230,000
Loan Approval from the SBA
Of the total $230,000 loan amount, the SBA guaranteed $115,000.
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 application for the borrower indicated that the loan would help retain 8 existing jobs.
Getting an SBA Loan For Your Business
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Community Bank and they will explain how you can get an SBA loan for your company.
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:
Business Incubators
SBA 7A Banks for Taos, New Mexico Loans
Browse All Business Loan Sources for New Mexico