Farmington, New Mexico Lender Lends Money to Commercial And Industrial Machinery And Equipment Company

Get to know Farmington, New Mexico banks that specialize in small business loans and know how to work with entrepreneurs. Four Corners Community Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Aztec, New Mexico starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Four Corners Community Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
AZTEC, NM 87401

SBA Loan Lender

FOUR CORNERS COMMUNITY BANK
500 WEST MAIN ST, STE 101
FARMINGTON, NM 87401

This bank 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.

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

12/7/2005

Loan Approval Gross Amount

$126,000

Loan Approval from the SBA

Of the total $126,000 loan amount, the SBA guaranteed $107,100.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $126,000 loan. Remember, anyone can do it... so why not you?

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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