Albuquerque, New Mexico Lender Lends Money to Sporting Goods Stores Company

Thinking about meeting with an Albuquerque, New Mexico bank about a business loan? Here's one New Mexico business loan, issued by an Albuquerque bank, that was approved by the SBA.

Applying for an SBA loan with New Mexico Bank & Trust worked out well for our friends at one local business in Albuquerque, New Mexico. They got an SBA loan for $88,000. Great job!

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
ALBUQUERQUE, NM 87113

SBA Loan Lender

NEW MEXICO BANK & TRUST
320 GOLD SW
ALBUQUERQUE, NM 87102

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

451110 - Sporting Goods Stores

Loan Approval Date

3/23/2006

Loan Approval Gross Amount

$88,000

Loan Approval from the SBA

Of the total $88,000 loan amount, the SBA guaranteed $44,000.

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 7 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 7 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Accountant's Role in Securing Financing

Banks in Albuquerque, New Mexico

New Mexico SBA Banks