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December 22, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Roswell, Business Loans > Bank Of The Southwest Roswell Business Loans > Hotels And Motels Loan | ||||
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Small Business Banks for Small Businesses in New Mexico
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New Mexico SBA Loan Issued to Hotels And Motels CompanyWould a New Mexico bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this New Mexico bank, which offers SBA loans to New Mexico entrepreneurs. You can learn something about getting a small business loan in Aztec, New Mexico by studying this loan to a local company, made back in 2004. Banks like Bank Of The Southwest may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender BANK OF THE SOUTHWEST Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 721110 - Hotels and Motels Loan Approval Date 6/2/2004 Loan Approval Gross Amount $347,000 Loan Approval from the SBA Of the total $347,000 loan amount, the SBA guaranteed $260,250. 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 only one employee. This SBA loan request indicated that the loan would help create 1 new job. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 $347,000 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: SBA Banks in Roswell, New Mexico
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