The Citizens Bank SBA Loan to Testing Laboratories Company

Looking to get a New Mexico small business loan? Here's one New Mexico business loan that was approved by the SBA.

This small business needed an SBA business loan in Farmington, New Mexico back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from The Citizens Bank, operating out of Farmington, New Mexico. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: TESTING LABORATORIES
FARMINGTON, NM 87401

SBA Loan Lender

THE CITIZENS BANK
500 W BROADWAY
FARMINGTON, NM 87401

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8734 - Testing Laboratories

Loan Approval Date

5/9/2000

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $36,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $45,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Getting a Small Business Loan

Small Bank Loans in Farmington, New Mexico

SBA New Mexico Lenders