Bank Of The Southwest SBA Loan to Video Tape Rental Company

Bank Of The Southwest and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Mexico entrepreneur was able to get a loan to take a small business to the next level.

This business knew how to go about getting a business bank loan. Based in Hatch, New Mexico, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Bank Of The Southwest, based in Hatch, New Mexico.

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE RENTAL
HATCH, NM 87937

SBA Loan Lender

BANK OF THE SOUTHWEST
121 E HALL, STE B
HATCH, NM 87937

This lender issued this particular 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

7841 - Video Tape Rental

NAICS Code

532230 - Video Tape and Disc Rental

Loan Approval Date

11/17/2000

Loan Approval Gross Amount

$34,800

Loan Approval from the SBA

Of the total $34,800 loan amount, the SBA guaranteed $27,840.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Hatch NM, you ought to talk with a local Hatch SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hatch businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of The Southwest and they will explain how you can get an SBA loan for your company.

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:

Role of Business Plan When Raising Money

SBA Approved Banks in Hatch, New Mexico

SBA Participating Banks in New Mexico