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December 18, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Carlsbad, Business Loans > Western Commerce Bank Carlsbad Business Loans > Water Well Drilling Contractors Loan | ||||
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Artesia, New Mexico Bank Loan
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Bank Loans for Water Well Drilling ContractorsLooking for bank loans for water well drilling contractors? An SBA loan may be just what you've been looking for. This $48,000 water well drilling contractors loan was issued by a New Mexico bank. Getting a small business loan in Artesia, New Mexico was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Western Commerce Bank, operating out of Carlsbad, New Mexico. Here are the details on this New Mexico small business loan. SBA Loan Borrower COMPANY TYPE: WATER WELL DRILLING CONTRACTORS SBA Loan Lender WESTERN COMMERCE BANK This was a Low Documentation SBA loan. The SBA started this program to minimize 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. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235810 - Water Well Drilling Contractors Loan Approval Date 2/7/2002 Loan Approval Gross Amount $48,000 Loan Approval from the SBA Of the total $48,000 loan amount, the SBA guaranteed $40,800. 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 SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $48,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Where to Get an SBA Loan in Carlsbad, New Mexico
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