School and Employee Bus Transportation Loans

With these loans for school and employee bus transportation, the SBA guarantees the lender that the loan will be repaid. This school and employee bus transportation loan for $300,400 was given to a New Mexico entrepreneur in 2005.

This small firm knew how to go about getting a business bank loan. Based in Hobbs, New Mexico, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Lea County State Bank, based in Hobbs, New Mexico.

SBA Loan Borrower

COMPANY TYPE: SCHOOL AND EMPLOYEE BUS TRANSPORTATION
HOBBS, NM 88240

SBA Loan Lender

LEA COUNTY STATE BANK
1017 N TURNER
HOBBS, NM 88240

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

485410 - School and Employee Bus Transportation

Loan Approval Date

6/6/2005

Loan Approval Gross Amount

$300,400

Loan Approval from the SBA

Of the total $300,400 loan amount, the SBA guaranteed $159,212.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

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.

Related Links:

Business Line of Credit

SBA Banks in Hobbs, New Mexico

SBA Lenders in New Mexico