Gallup, New Mexico Business Gets SBA-Guaranteed Funding from Pinnacle Bank, A Division Of

Pinnacle Bank, A Division Of is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Mexico entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Pinnacle Bank, A Division Of, out of Gallup, New Mexico. The loan was granted and they received $331,200 to help grow their Gallup, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: OUTDOOR POWER EQUIPMENT STORES
GALLUP, NM 87301

SBA Loan Lender

PINNACLE BANK, A DIVISION OF
307 W AZTEC
GALLUP, NM 87301

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444210 - Outdoor Power Equipment Stores

Loan Approval Date

4/13/2007

Loan Approval Gross Amount

$331,200

Loan Approval from the SBA

Of the total $331,200 loan amount, the SBA guaranteed $248,400.

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 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Pinnacle Bank, A Division Of and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Alternative Financing

Where to Get an SBA Loan in Gallup, New Mexico

SBA Participating Banks in New Mexico