Alamogordo, New Mexico Bank Lends Money to Site Preparation Contractors Company in High Rolls Mountain Park, New Mexico

An Alamogordo, New Mexico small business loan can be yours. Learn how a company got a $129,400 business loan from this New Mexico bank.

This loan to an entrepreneur is a good example of an SBA loan. Western Bank made the loan and the SBA guaranteed a portion of the loan. Many other New Mexico entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: SITE PREPARATION CONTRACTORS
HIGH ROLLS MOUNTAIN PARK, NM 88325

SBA Loan Lender

WESTERN BANK
500 9TH & MARYLAND
ALAMOGORDO, NM 88310

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238910 - Site Preparation Contractors

Loan Approval Date

12/16/2005

Loan Approval Gross Amount

$129,400

Loan Approval from the SBA

Of the total $129,400 loan amount, the SBA guaranteed $64,700.

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 documents indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Western Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Western Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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