Roswell, New Mexico Bank Gives SBA Loan to Personal Services Company

Find Roswell, New Mexico banks that specialize in SBA loans and know how to work with entrepreneurs. Bank Of The Southwest is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: PERSONAL SERVICES
FRUITLAND, NM 87416

SBA Loan Lender

BANK OF THE SOUTHWEST
226 N MAIN ST
ROSWELL, NM 88202

This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812990 - Personal Services

Loan Approval Date

7/31/2006

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 10 employees. This SBA loan request indicated that the loan would help create 10 new jobs.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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