Grants, New Mexico Lender Lends Money to Motorcycle, Atv, And Personal Watercraft Dealers Company

Get business loans from a Grants, New Mexico bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Grants State Bank is a Grants, New Mexico small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a New Mexico company.

SBA Loan Borrower

COMPANY TYPE: MOTORCYCLE, ATV, AND PERSONAL WATERCRAFT DEALERS
GRANTS, NM 87020

SBA Loan Lender

GRANTS STATE BANK
824 W SANTA FE AVE
GRANTS, NM 87020

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

441221 - Motorcycle, ATV, and Personal Watercraft Dealers

Loan Approval Date

7/25/2002

Loan Approval Gross Amount

$91,530

Loan Approval from the SBA

Of the total $91,530 loan amount, the SBA guaranteed $77,801.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Determining Proper Capital Structure for a Business

SBA Banks in Grants, New Mexico

Find an SBA Lender in New Mexico