Albuquerque, New Mexico Bank Gives SBA Loan to Sports And Recreation Instruction Company
An Albuquerque, New Mexico business loan can be yours. Learn how a company got a $70,000 business loan from this New Mexico bank.
This loan to an entrepreneur is a good example of an SBA loan. New Mexico Bank & Trust made the loan and the SBA guaranteed a portion of the loan. Many other New Mexico entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.
SBA Loan Borrower
COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION
ALBUQUERQUE, NM 87114
SBA Loan Lender
NEW MEXICO BANK & TRUST
6201 RIVERSIDE PLZ LN
ALBUQUERQUE, NM 87120
This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
611620 - Sports and Recreation Instruction
Loan Approval Date
12/2/2003
Loan Approval Gross Amount
$70,000
Loan Approval from the SBA
Of the total $70,000 loan amount, the SBA guaranteed $59,500.
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 2 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
Many small businesses receive loans backed by the U.S. Small Business Administration.
While you may be able to borrow money from friends and family, 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:
Obtaining Funding - Friends and Family
Best Banks in Albuquerque, New Mexico
Getting an SBA Loan in New Mexico