Growing Company Gets a New Mexico Bank Loan

Bank loans in New Mexico are are few and far betweeen these days. We take a look at one New Mexico bank loan, provided by a Texas bank, that was approved by the SBA.

Getting a small business loan in Las Cruces, New Mexico was a top priority for this loan applicant back in 2000 and, based on their loan application, they were successful in getting an SBA loan from State National Bank. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SHOPS
LAS CRUCES, NM 88011

SBA Loan Lender

STATE NATIONAL BANK
690 SUNLAND PARK DR
EL PASO, TX 79912

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

3/30/2000

Loan Approval Gross Amount

$197,600

Loan Approval from the SBA

Of the total $197,600 loan amount, the SBA guaranteed $148,200.

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 8 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We can help you find the best banks for small businesses in Las Cruces or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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