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November 21, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Las Cruces, Business Loans > Citizens Bank Of Las Cruces Las Cruces Business Loans > Engineering Services Loan | ||||
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SBA 7A Banks That Lend to New Mexico Businesses
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Las Cruces, New Mexico Entrepreneur Gets a Business LoanWant a New Mexico SBA loan? This New Mexico entrepreneur got an SBA loan, provided by a New Mexico bank that works with the SBA to help small business owners. Getting a small business loan in Las Cruces, New Mexico was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Citizens Bank Of Las Cruces. Here are the details on this New Mexico small business loan. SBA Loan Borrower COMPANY TYPE: ENGINEERING SERVICES SBA Loan Lender CITIZENS BANK OF LAS CRUCES The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541330 - Engineering Services Loan Approval Date 10/30/2002 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Role of Business Plan When Raising Money Banks in Las Cruces, New Mexico Where to Get an SBA Loan New Mexico
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