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November 21, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Belen, Business Loans > My Bank Belen Business Loans > Personal Services Loan | ||||
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Best Banks That Lend to New Mexico Business Owners
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Local Business Gets a New Mexico SBA LoanSearching for a New Mexico business loan? This New Mexico entrepreneur got a business loan, provided by a New Mexico bank that works with the SBA to help small business owners. This small business, based in Albuquerque, New Mexico, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from My Bank. We've got the inside scoop on this New Mexico small business loan. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender MY BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 812990 - Personal Services Loan Approval Date 8/23/2006 Loan Approval Gross Amount $160,000 Loan Approval from the SBA Of the total $160,000 loan amount, the SBA guaranteed $80,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 2 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. 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. Related Links: SBA 7A Banks in Belen, New Mexico Getting an SBA Loan in New Mexico
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