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November 14, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Albuquerque, Business Loans > First Community Bank Albuquerque Business Loans > Residential Remodelers Loan | ||||
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Examples of Albuquerque SBA Loans
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Small Business Loans for Residential RemodelersLooking for small business loans for residential remodelers? An SBA loan may be just what you've been looking for. This $50,000 residential remodelers loan was issued by a New Mexico bank. This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First Community Bank, out of Albuquerque, New Mexico. The loan was granted and they received $50,000 to help grow their Albuquerque, New Mexico business. SBA Loan Borrower COMPANY TYPE: RESIDENTIAL REMODELERS SBA Loan Lender FIRST COMMUNITY BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 236118 - Residential Remodelers Loan Approval Date 10/20/2003 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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 - Getting Venture Capital SBA Participating Banks in Albuquerque, New Mexico
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