New Mexico Business Loan Issued to Beauty Salons Company
Want a New Mexico business loan? This New Mexico entrepreneur got a business loan, provided by a New Mexico bank that works with the SBA to help small business owners.
This company, based in Las Cruces, New Mexico, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of The Southwest. We've got the inside scoop on this New Mexico small business loan.
SBA Loan Borrower
COMPANY TYPE: BEAUTY SALONS
LAS CRUCES, NM 88001
SBA Loan Lender
BANK OF THE SOUTHWEST
605 N WATER ST
LAS CRUCES, NM 88001
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
812112 - Beauty Salons
Loan Approval Date
12/3/2003
Loan Approval Gross Amount
$15,000
Loan Approval from the SBA
Of the total $15,000 loan amount, the SBA guaranteed $12,750.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money
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.
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