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November 15, 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 > Support Activities For Oil And Gas Operations Loan | ||||
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Roswell, New Mexico Bank for SBA Loans
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Roswell, New Mexico Bank Gives SBA Loan to Support Activities For Oil And Gas Operations CompanyThinking about meeting with a Roswell, New Mexico bank about an SBA loan? Here's one New Mexico business loan, issued by a Roswell bank, that was approved by the SBA. Applying for an SBA loan with Bank Of The Southwest worked out well for our friends at one local business in Aztec, New Mexico. The business was able to get an SBA loan for $75,000. Nice! SBA Loan Borrower COMPANY TYPE: SUPPORT ACTIVITIES FOR OIL AND GAS OPERATIONS SBA Loan Lender BANK OF THE SOUTHWEST This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 213112 - Support Activities for Oil and Gas Operations Loan Approval Date 5/12/2006 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $37,500. 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 5 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Remember, you 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of The Southwest had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of The Southwest made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: How Much Venture Capital Is There? Find an SBA Lender in Roswell, New Mexico
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