Getting an SBA Loan for General Merchandise Stores

With these SBA loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $134,400 was given to a New Mexico entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in High Rolls, New Mexico, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Pioneer Bank, based in Roswell, New Mexico.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
HIGH ROLLS, NM 88325

SBA Loan Lender

PIONEER BANK
306 N PENNSYLVANIA AVE
ROSWELL, NM 88201

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.

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

10/8/2004

Loan Approval Gross Amount

$134,400

Loan Approval from the SBA

Of the total $134,400 loan amount, the SBA guaranteed $114,240.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 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?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Pioneer Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

How to Raise Money

Where to Get an SBA Loan in Roswell, New Mexico

Browse All Business Loan Sources for New Mexico