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December 20, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Albuquerque, Business Loans > Charter Bank Albuquerque Business Loans > Sewing, Needlework, And Piece Goods Stores Loan | ||||
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Charter Bank Albuquerque
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Albuquerque, New Mexico Business Gets SBA-Guaranteed Funding from Charter BankCharter Bank has a track record as a leading provider of SBA loans. Find out how this New Mexico entrepreneur received an SBA loan from them. This growing company knew how to go about getting a business bank loan. Based in Albuquerque, New Mexico, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Charter Bank, based in Albuquerque, New Mexico. SBA Loan Borrower COMPANY TYPE: SEWING, NEEDLEWORK, AND PIECE GOODS STORES SBA Loan Lender CHARTER BANK 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 5949 - Sewing, Needlework, and Piece Goods Stores NAICS Code 451130 - Sewing, Needlework, and Piece Goods Stores Loan Approval Date 7/7/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Charter Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Where to Get an SBA Loan in Albuquerque, New Mexico
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