Borrowing Money for Consumer Goods Rental

With these bank loans for consumer goods rental, the SBA guarantees the lender that the loan will be repaid. This consumer goods rental loan for $250,000 was given to a New Mexico entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hobbs, New Mexico was able to borrow $250,000 from Western Commerce Bank. The SBA made the loan possible by guaranteeing $187,500 of this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: CONSUMER GOODS RENTAL
HOBBS, NM 88240

SBA Loan Lender

WESTERN COMMERCE BANK
127 S CANYON ST
CARLSBAD, NM 88220

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532299 - Consumer Goods Rental

Loan Approval Date

11/23/2001

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 15 existing jobs.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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