Hobbs, New Mexico Bank Gives SBA Loan to Retail Stores Company

Get small business loans from a Hobbs, New Mexico bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Western Commerce Bank is a Hobbs, New Mexico small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a New Mexico company.

SBA Loan Borrower

COMPANY TYPE: RETAIL STORES
HOBBS, NM 88240

SBA Loan Lender

WESTERN COMMERCE BANK
1510 CALLE SUR
HOBBS, NM 88240

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

Loan Approval Date

3/23/2000

Loan Approval Gross Amount

$64,000

Loan Approval from the SBA

Of the total $64,000 loan amount, the SBA guaranteed $51,200.

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 3 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Western Commerce Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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Small Bank Loans in Hobbs, New Mexico

SBA Lenders in New Mexico