Business Loan from First Community Bank Given to Masonry Contractors Company

An SBA loan from First Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Albuquerque, New Mexico business owner got a $25,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with First Community Bank, out of Taos, New Mexico. The loan was granted and they received $25,000 to help grow their Albuquerque, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: MASONRY CONTRACTORS
ALBUQUERQUE, NM 87125

SBA Loan Lender

FIRST COMMUNITY BANK
120 W PLAZA
TAOS, NM 87571

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238140 - Masonry Contractors

Loan Approval Date

3/24/2006

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $25,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

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SBA 7A Banks for Taos, New Mexico Loans

New Mexico SBA 7A Lenders