Las Cruces, New Mexico Business Gets SBA-Guaranteed Funding from Bank - Rio Grande

Bank - Rio Grande is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Mexico entrepreneur who tapped into the power of SBA loans.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Bank - Rio Grande, out of Las Cruces, New Mexico. The loan was granted and they received $743,000 to help grow their Las Cruces, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: FABRICATED STRUCTURAL METAL MANUFACTURING
LAS CRUCES, NM 88005

SBA Loan Lender

BANK - RIO GRANDE
421 N WATER
LAS CRUCES, NM 88001

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332312 - Fabricated Structural Metal Manufacturing

Loan Approval Date

8/12/2004

Loan Approval Gross Amount

$743,000

Loan Approval from the SBA

Of the total $743,000 loan amount, the SBA guaranteed $557,250.

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 20 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $743,000 loan. Remember, if it to be, it is up to me!

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:

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SBA Banks in Las Cruces, New Mexico

Getting an SBA Loan in New Mexico