Commercial and Industrial Machinery and Equipment Business Loans

Looking for business loans for commercial and industrial machinery and equipment? An SBA loan may be just what you've been looking for. This $120,000 commercial and industrial machinery and equipment loan was issued by a New Mexico bank.

This business knew how to go about getting a business bank loan. Based in Farmington, New Mexico, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Bank Of The Southwest, based in Roswell, New Mexico.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
FARMINGTON, NM 87402

SBA Loan Lender

BANK OF THE SOUTHWEST
226 N MAIN ST
ROSWELL, NM 88202

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

5/31/2007

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $90,000.

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 5 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 7 existing jobs.

Next Steps for Getting an SBA Loan

If you need business start up money in Farmington NM, you ought to talk with a local Farmington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Farmington businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank Of The Southwest that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

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SBA Approved Banks in Roswell, New Mexico

Where to Get an SBA Loan New Mexico