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November 15, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Grants, Business Loans > Grants State Bank Grants Business Loans > Special Industry Machinery Loan | ||||
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Examples of Albuquerque SBA Loans
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Where to Get Capital for Industrial Machinery ManufacturingLooking for SBA loans for industrial machinery manufacturing? Talk to a banker who works with the SBA. This $300,000 industrial machinery manufacturing loan was issued by a New Mexico bank. Getting a small business loan in Albuquerque, New Mexico was important for this business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Grants State Bank, operating out of Grants, New Mexico. Here are the details on this New Mexico small business loan. SBA Loan Borrower COMPANY TYPE: SPECIAL INDUSTRY MACHINERY SBA Loan Lender GRANTS STATE BANK This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3559 - Special Industry Machinery NAICS Code 333298 - Industrial Machinery Manufacturing Loan Approval Date 3/29/2000 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $270,000. 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 14 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Grants State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 From a Venture Capitalist Small Business Banks in Grants, New Mexico
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