Entrepreneur Works With Carlsbad, New Mexico Bank to Get an SBA Loan

Want to talk with a Carlsbad, New Mexico bank about a business loan? Here's one New Mexico business loan, issued by a Carlsbad bank, that was approved by the SBA.

Applying for an SBA loan with Western Commerce Bank worked out well for our friends at one local firm in Hobbs, New Mexico. They received an SBA loan for $515,000. Nice!

SBA Loan Borrower

COMPANY TYPE: BUILDING EQUIPMENT CONTRACTORS
HOBBS, NM 88241

SBA Loan Lender

WESTERN COMMERCE BANK
127 S CANYON ST
CARLSBAD, NM 88220

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238290 - Building Equipment Contractors

Loan Approval Date

10/25/2007

Loan Approval Gross Amount

$515,000

Loan Approval from the SBA

Of the total $515,000 loan amount, the SBA guaranteed $386,250.

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 48 employees. The SBA loan documents indicated that the loan would help generate 12 new jobs and retain 60 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Western Commerce Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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

Good Banks for Small Business in Carlsbad, New Mexico

Browse All Business Loan Sources for New Mexico