How to Get a Loan for Commercial and Industrial Machinery and Equipment

Looking for commercial loans for commercial and industrial machinery and equipment? Try the SBA. This $100,000 commercial and industrial machinery and equipment loan was issued by a New Mexico bank.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with The First National Bank, out of Artesia, New Mexico. The loan was granted and they received $100,000 to help grow their Hobbs, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND INDUSTRIAL MACHINERY AND EQUIPMENT
HOBBS, NM 88240

SBA Loan Lender

THE FIRST NATIONAL BANK
303 W MAIN ST
ARTESIA, NM 88211

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

10/23/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 9 employees. The SBA loan application for the borrower indicated that the loan would help retain 9 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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Best Banks in Artesia, New Mexico

Getting an SBA Loan in New Mexico