Jal, New Mexico Entrepreneur Gets an SBA Loan

Would a New Mexico bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this New Mexico bank, which offers SBA loans to New Mexico entrepreneurs.

Getting a small business loan in Jal, New Mexico was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Lea County State Bank. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE AND DISC RENTAL
JAL, NM 88252

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

532230 - Video Tape and Disc Rental

Loan Approval Date

7/31/2001

Loan Approval Gross Amount

$52,000

Loan Approval from the SBA

Of the total $52,000 loan amount, the SBA guaranteed $44,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

This SBA loan was for $52,000. How would you spend $52,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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