New Mexico Business Loan Issued to Sporting Goods Stores Company

Would a New Mexico bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this New Mexico bank, which offers SBA loans to New Mexico entrepreneurs.

Getting a small business loan in Farmington, New Mexico was a top priority for this loan applicant back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Washington Fed. S & L Association. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
FARMINGTON, NM 87401

SBA Loan Lender

WASHINGTON FED. S & L ASSOCIATION
221 W AZTEC
GALLUP, NM 87301

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

5/7/2002

Loan Approval Gross Amount

$264,000

Loan Approval from the SBA

Of the total $264,000 loan amount, the SBA guaranteed $198,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 9 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Banking Deregulation's Effects on Entrepreneurship

SBA Banks in Gallup, New Mexico

SBA Participating Banks in New Mexico