Deming, New Mexico Entrepreneur Gets an SBA Loan

Would a New Mexico small business loan help your small business to grow and prosper? If so, you may want to talk with this New Mexico bank, which offers SBA loans to New Mexico entrepreneurs.

By giving the right information to First New Mexico Bank, this Deming, New Mexico business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: HOMES FOR THE ELDERLY
DEMING, NM 88030

SBA Loan Lender

FIRST NEW MEXICO BANK
300 S GOLD
DEMING, NM 88030

This lender issued this SBA business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started 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

623312 - Homes for the Elderly

Loan Approval Date

7/2/2001

Loan Approval Gross Amount

$220,100

Loan Approval from the SBA

Of the total $220,100 loan amount, the SBA guaranteed $165,075.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a company in Deming NM, you ought to talk with a local Deming SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Deming businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First New Mexico Bank and they will explain how you can get an SBA loan for your company.

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:

Find Start-Up Capital

Best Banks in Deming, New Mexico

SBA Lenders in New Mexico