Get an SBA Loan for Graphic Design Services

Looking for loans for graphic design services? The SBA may be the answer. This $202,700 graphic design services loan was issued by a New Mexico bank.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First Community Bank, out of Taos, New Mexico. The loan was granted and they received $202,700 to help grow their Albuquerque, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: GRAPHIC DESIGN SERVICES
ALBUQUERQUE, NM 87113

SBA Loan Lender

FIRST COMMUNITY BANK
120 W PLAZA
TAOS, NM 87571

This lender issued this SBA small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

541430 - Graphic Design Services

Loan Approval Date

2/28/2003

Loan Approval Gross Amount

$202,700

Loan Approval from the SBA

Of the total $202,700 loan amount, the SBA guaranteed $152,025.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 18 employees. The SBA loan documents did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Attracting Investors

Small Business Banks in Taos, New Mexico

New Mexico SBA 7A Lenders