Getting an SBA Loan for Jewelry, Watch, Precious Stone, and Precious Metal Wholesalers

Looking for commercial loans for jewelry, watch, precious stone, and precious metal wholesalers? Try the SBA. This $150,000 jewelry, watch, precious stone, and precious metal wholesalers loan was issued by a New Mexico bank.

Getting a small business loan in Albuquerque, New Mexico was important for this business 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: JEWELRY, WATCH, PRECIOUS STONE, AND PRECIOUS METAL WHOLESALERS
ALBUQUERQUE, NM 87114

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.

NAICS Code

421940 - Jewelry, Watch, Precious Stone, and Precious Metal Wholesalers

Loan Approval Date

6/29/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 5 employees. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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.

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.

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