Bank Of The West SBA Loan to Automotive Parts And Accessories Stores Company

An SBA loan from Bank Of The West typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Las Cruces, New Mexico business owner got a $61,600 loan.

Getting a small business loan in Las Cruces, New Mexico was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Bank Of The West, operating out of Salt Lake City, Utah. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES
LAS CRUCES, NM 88004

SBA Loan Lender

BANK OF THE WEST
142 EAST 200 SOUTH
SALT LAKE CITY, UT 84111

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

5/10/2002

Loan Approval Gross Amount

$61,600

Loan Approval from the SBA

Of the total $61,600 loan amount, the SBA guaranteed $52,360.

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 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of The West had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of The West made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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