Farmington, New Mexico Bank Lends Money to Medical Equipment Rental And Leasing Company in Farmington, New Mexico

Get to know Farmington, New Mexico banks that specialize in SBA loans and know how to work with entrepreneurs. Four Corners Community Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Farmington, New Mexico starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Four Corners Community Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: MEDICAL EQUIPMENT RENTAL AND LEASING
FARMINGTON, NM 87401

SBA Loan Lender

FOUR CORNERS COMMUNITY BANK
500 WEST MAIN ST, STE 101
FARMINGTON, NM 87401

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7352 - Medical Equipment Rental and Leasing

NAICS Code

446199 - Health and Personal Care Stores

Loan Approval Date

10/18/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 3 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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