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November 21, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Mclean, Business Loans > Capital One Mclean Business Loans > Residential Remodelers Loan | ||||
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Getting an SBA Loan in Farmington, New Mexico
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Capital One Gives Business Loan to Residential Remodelers CompanyLooking to get a New Mexico SBA loan? This New Mexico entrepreneur got an SBA loan, provided by a Virginia bank that works with the SBA to help small business owners. This company, based in Farmington, New Mexico, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Capital One. We've got the inside scoop on this New Mexico small business loan. SBA Loan Borrower COMPANY TYPE: RESIDENTIAL REMODELERS SBA Loan Lender CAPITAL ONE The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 236118 - Residential Remodelers Loan Approval Date 7/7/2006 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $25,000 loan. Remember, you control your own destiny. 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: Obtaining Funding - Getting Venture Capital SBA Approved Banks in Mclean, Virginia
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