Commercial Loans for Commercial and Industrial Machinery and Equipment

With these commercial loans for commercial and industrial machinery and equipment, the SBA guarantees the lender that the loan will be repaid. This commercial and industrial machinery and equipment loan for $250,000 was given to a New Mexico entrepreneur in 2006.

Getting a small business loan in Bloomfield, New Mexico was important for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Vectra Bank Colorado, operating out of Farmington, New Mexico. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
BLOOMFIELD, NM 87413

SBA Loan Lender

VECTRA BANK COLORADO
2000 E 20TH ST
FARMINGTON, NM 87401

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

12/18/2006

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

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 29 employees. The SBA loan application for the borrower indicated that the loan would help retain 29 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Vectra Bank Colorado so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Debt Financing

SBA 7A Banks for Farmington, New Mexico Loans

SBA Participating Banks in New Mexico