First Community Bank SBA Loan to Beauty Shops Company

First Community Bank 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 Belen, New Mexico was able to borrow $74,800 from First Community Bank. The SBA made the loan possible by guaranteeing $59,840 of this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
BELEN, NM 87002

SBA Loan Lender

FIRST COMMUNITY BANK
111 LOMAS NW
ALBUQUERQUE, NM 87102

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

Loan Approval Date

9/6/2000

Loan Approval Gross Amount

$74,800

Loan Approval from the SBA

Of the total $74,800 loan amount, the SBA guaranteed $59,840.

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 10 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you want money for new small business in Belen NM, you ought to talk with a local Belen SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Belen businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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