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November 21, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Farmington, Business Loans > Four Corners Community Bank Farmington Business Loans > General Freight Trucking, Local Loan | ||||
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Four Corners Community Bank SBA Loan Farmington
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SBA Loan from Four Corners Community Bank Helps General Freight Trucking, Local CompanyAn SBA loan from Four Corners Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Farmington, New Mexico business owner got a $504,000 loan. This business knew how to go about getting a business bank loan. Based in Farmington, New Mexico, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Four Corners Community Bank, based in Farmington, New Mexico. SBA Loan Borrower COMPANY TYPE: GENERAL FREIGHT TRUCKING, LOCAL SBA Loan Lender FOUR CORNERS COMMUNITY BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 484110 - General Freight Trucking, Local Loan Approval Date 2/21/2001 Loan Approval Gross Amount $504,000 Loan Approval from the SBA Of the total $504,000 loan amount, the SBA guaranteed $378,000. 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 16 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA 7A Banks in Farmington, New Mexico
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