Borrowing Money for Veterinary Services

With these small business loans for veterinary services, the SBA guarantees the lender that the loan will be repaid. This veterinary services loan for $400,000 was given to a New Mexico entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Deming, New Mexico was able to borrow $400,000 from First New Mexico Bank. The SBA made the loan possible by guaranteeing $300,000 of this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: VETERINARY SERVICES
DEMING, NM 88031

SBA Loan Lender

FIRST NEW MEXICO BANK
300 S GOLD
DEMING, NM 88030

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541940 - Veterinary Services

Loan Approval Date

1/26/2007

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must 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.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Dealing With Venture Capitalists

Best Banks in Deming, New Mexico

New Mexico SBA 7A Lenders