First Community Bank Provides SBA Loan to Buy Liberty Tax Service Franchise

Need money to buy a Liberty Tax Service franchise? First Community Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Albuquerque, New Mexico and are interested in buying a Liberty Tax Service franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by First Community Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

LIBERTY TAX SERVICE
ALBUQUERQUE, NM 87110

SBA Loan Lender

FIRST COMMUNITY BANK
1781 RIO RANCHO BLVD
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

541213 - Tax Preparation Services

Loan Approval Date

12/3/2003

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Liberty Tax Service franchise. At the time of the loan, the company had 7 employees. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Remember, 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.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from First Community Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Liberty Tax Service

Business Incubators

SBA Banks in Rio Rancho, New Mexico

Getting an SBA Loan in New Mexico