Loan Census Banking News and Information
November 14, 2024  
 
 
  Business Loan Information  
 

Banks for Albuquerque, New Mexico Businesses

 

 
Loan Census SBA Loan Info

Furniture Stores Commercial Loans

With these commercial loans for furniture stores, the SBA guarantees the lender that the loan will be repaid. This furniture stores loan for $148,000 was given to a New Mexico entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Albuquerque, New Mexico, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First Community Bank, based in Taos, New Mexico.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
ALBUQUERQUE, NM 87102

SBA Loan Lender

FIRST COMMUNITY BANK
120 W PLAZA
TAOS, NM 87571

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

11/15/2004

Loan Approval Gross Amount

$148,000

Loan Approval from the SBA

Of the total $148,000 loan amount, the SBA guaranteed $125,800.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We've showcased information on this loan to let you know that businesses like yours 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:

Debt Financing

Good Banks for Small Business in Taos, New Mexico

New Mexico SBA 7A Banks