Business Loan from Bank Of The Southwest Given to Machine Shops Company

Bank Of The Southwest has a track record as a leading provider of SBA loans. Find out how this New Mexico entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Aztec, New Mexico was able to borrow $74,618 from Bank Of The Southwest. The SBA made the loan possible by guaranteeing $55,964 of this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
AZTEC, NM 87410

SBA Loan Lender

BANK OF THE SOUTHWEST
320 W MAIN ST
FARMINGTON, NM 87401

This debt financing 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

332710 - Machine Shops

Loan Approval Date

6/2/2003

Loan Approval Gross Amount

$74,618

Loan Approval from the SBA

Of the total $74,618 loan amount, the SBA guaranteed $55,964.

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 13 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of The Southwest and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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