Where to Get Capital for Elementary and Secondary Schools

With these SBA loans for elementary and secondary schools, the SBA guarantees the lender that the loan will be repaid. This elementary and secondary schools loan for $850,000 was given to a New Mexico entrepreneur in 2007.

This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with First Chatham Bank, out of Savannah, Georgia. The loan was granted and they received $850,000 to help grow their Albuquerque, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: ELEMENTARY AND SECONDARY SCHOOLS
ALBUQUERQUE, NM 87111

SBA Loan Lender

FIRST CHATHAM BANK
111 BARNARD ST
SAVANNAH, GA 31401

This lender issued this loan under the SBA's 7(a) guaranteed loan 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

611110 - Elementary and Secondary Schools

Loan Approval Date

3/13/2007

Loan Approval Gross Amount

$850,000

Loan Approval from the SBA

Of the total $850,000 loan amount, the SBA guaranteed $637,500.

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 15 employees. The SBA loan documents indicated that the loan would help retain 15 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great funding source

We can help you find the best banks for small businesses in Albuquerque or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Understanding Dilution

SBA 7A Lenders in Savannah, Georgia

Georgia SBA 7A Lenders