First Community Bank SBA Loan to Radio, Tv, And Consumer Electronics Retailing Company

Searching for a New Mexico SBA loan? Here's one New Mexico business loan that was approved by the SBA.

This up and coming company knew how to go about getting a business bank loan. Based in Albuquerque, New Mexico, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was First Community Bank, based in Albuquerque, New Mexico.

SBA Loan Borrower

COMPANY TYPE: RADIO, TV, AND CONSUMER ELECTRONICS RETAILING
ALBUQUERQUE, NM 87111

SBA Loan Lender

FIRST COMMUNITY BANK
111 LOMAS NW
ALBUQUERQUE, NM 87102

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5731 - Radio, TV, and Consumer Electronics Retailing

Loan Approval Date

9/28/2000

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $72,000.

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 5 employees. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Community Bank 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:

Obtaining Funding - How to Borrow Money

SBA 7A Lenders in Albuquerque, New Mexico

Getting a Business Loan in New Mexico