Business Loan from First Community Bank Given to Book Stores Company

An SBA loan from First Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Clovis, New Mexico business owner got a $121,600 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clovis, New Mexico was able to borrow $121,600 from First Community Bank. The SBA made the loan possible by guaranteeing $91,200 of this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: BOOK STORES
CLOVIS, NM 88101

SBA Loan Lender

FIRST COMMUNITY BANK
801 PILE ST
CLOVIS, NM 88101

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451211 - Book Stores

Loan Approval Date

5/15/2003

Loan Approval Gross Amount

$121,600

Loan Approval from the SBA

Of the total $121,600 loan amount, the SBA guaranteed $91,200.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

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.

Related Links:

Microlending as a Small Business Funding Source

SBA Approved Banks in Clovis, New Mexico

New Mexico SBA 7A Lenders