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November 15, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Rio Rancho, Business Loans > New Mexico Bank & Trust Rio Rancho Business Loans > Motion Picture And Video Production Loan | ||||
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NM SBA Loan from New Mexico Bank & Trust
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Business Loan from New Mexico Bank & Trust Given to Motion Picture And Video Production CompanyNew Mexico Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Mexico entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Albuquerque, New Mexico was able to borrow $100,000 from New Mexico Bank & Trust. The SBA made the loan possible by guaranteeing $85,000 of this New Mexico small business loan. SBA Loan Borrower COMPANY TYPE: MOTION PICTURE AND VIDEO PRODUCTION SBA Loan Lender NEW MEXICO BANK & TRUST 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 512110 - Motion Picture and Video Production Loan Approval Date 10/29/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 5 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. New Mexico Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, New Mexico Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Determining Proper Capital Structure for a Business SBA 7A Banks for Rio Rancho, New Mexico Loans Find an SBA Lender in New Mexico
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