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

Want to talk with a Carlsbad, New Mexico bank about an SBA loan? Here's one New Mexico business loan, issued by a Carlsbad bank, that was approved by the SBA.

Applying for an SBA loan with Western Commerce Bank worked out well for our friends at one local firm in Clovis, New Mexico. The business was able to get an SBA loan for $1,160,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: SCHOOL AND EMPLOYEE BUS TRANSPORTATION
CLOVIS, NM 88102

SBA Loan Lender

WESTERN COMMERCE BANK
127 S CANYON ST
CARLSBAD, NM 88220

This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

485410 - School and Employee Bus Transportation

Loan Approval Date

8/3/2004

Loan Approval Gross Amount

$1,160,000

Loan Approval from the SBA

Of the total $1,160,000 loan amount, the SBA guaranteed $580,000.

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 88 employees. The SBA loan application for the borrower indicated that the loan would help retain 88 existing jobs.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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