Company Gets a New Mexico Bank Loan

SBA loans in New Mexico are hard to find these days. We take a look at one New Mexico SBA loan, provided by a New Mexico bank, that was approved by the SBA.

You can learn something about getting a small business loan in Albuquerque, New Mexico by studying this loan to a local business, made back in 2002. Banks like First Community Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: OPTICAL INSTRUMENTS AND LENSES
ALBUQUERQUE, NM 87123

SBA Loan Lender

FIRST COMMUNITY BANK
5210 EUBANK NE
ALBUQUERQUE, NM 76111

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.

SIC Code

3827 - Optical Instruments and Lenses

NAICS Code

333314 - Optical Instrument and Lens Manufacturing

Loan Approval Date

8/14/2002

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $112,500.

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 3 employees. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Direct Public Offerings

Banks in Albuquerque, New Mexico

Where to Get an SBA Loan New Mexico