Entrepreneur Works With Clovis, New Mexico Bank to Get an SBA Loan

A Clovis, New Mexico business loan can be yours. Learn how a business got a $60,000 business loan from this New Mexico bank.

This loan to an entrepreneur is a good example of an SBA loan. First Community Bank made the loan and the SBA guaranteed a portion of the loan. Many other New Mexico entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: PET AND PET SUPPLIES STORES
CLOVIS, NM 88101

SBA Loan Lender

FIRST COMMUNITY BANK
801 PILE ST
CLOVIS, NM 88101

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453910 - Pet and Pet Supplies Stores

Loan Approval Date

4/18/2001

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you have been wondering how do i get money to start a business in Clovis NM, you ought to talk with a local Clovis SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Clovis businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from First Community Bank 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:

Getting a Small Business Loan

Good Banks for Small Business in Clovis, New Mexico

Getting an SBA Loan in New Mexico