Limited-Service Restaurants Bank Loans

Looking for bank loans for limited-service restaurants? Talk to a banker who works with the SBA. This $150,000 limited-service restaurants loan was issued by a New Mexico bank.

Getting a small business loan in Hillsboro, New Mexico was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Bank Of The Southwest, operating out of Truth Or Consequences, New Mexico. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
HILLSBORO, NM 88042

SBA Loan Lender

BANK OF THE SOUTHWEST
509 BROADWAY
TRUTH OR CONSEQUENCES, NM 87901

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/11/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 3 employees. This SBA loan request did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in Hillsboro NM, you ought to talk with a local Hillsboro SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hillsboro businesses.

We can help you find the best banks for small businesses in Hillsboro or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

The Art of Bootstrapping

Banks in Truth Or Consequences, New Mexico

Where to Get an SBA Loan New Mexico