Artesia, New Mexico Entrepreneur Gets a Bank Loan

Business loans in New Mexico are hard to find these days. We take a look at one New Mexico business loan, provided by a New Mexico bank, that was approved by the SBA.

Getting a small business loan in Artesia, New Mexico was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Western Commerce Bank. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: CLOTHING STORES
ARTESIA, NM 88210

SBA Loan Lender

WESTERN COMMERCE BANK
127 S CANYON ST
CARLSBAD, NM 88220

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

448190 - Clothing Stores

Loan Approval Date

1/18/2005

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $27,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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.

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