Hobbs, New Mexico Lender Lends Money to Plumbing, Heating, And Air Conditioning Contractors Company

Find Hobbs, New Mexico banks that specialize in SBA loans and know how to work with entrepreneurs. Lea County State Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Hobbs, New Mexico starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Lea County State Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: PLUMBING, HEATING, AND AIR CONDITIONING CONTRACTORS
HOBBS, NM 88240

SBA Loan Lender

LEA COUNTY STATE BANK
1017 N TURNER
HOBBS, NM 88240

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235110 - Plumbing, Heating, and Air Conditioning Contractors

Loan Approval Date

5/1/2003

Loan Approval Gross Amount

$77,200

Loan Approval from the SBA

Of the total $77,200 loan amount, the SBA guaranteed $65,620.

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 10 employees. The loan application did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Lea County State 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:

Accountant's Role in Securing Financing

Who Lends Money to Small Businesses in Hobbs, New Mexico

New Mexico SBA 7A Banks