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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 > Bank Of The Southwest Las Cruces Business Loans > General Long-Distance Freight Trucking Loan | ||||
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Who Can Get a Business Loan in Las Cruces, New Mexico?
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Business Loans for General Long-Distance Freight TruckingWith these business loans for general long-distance freight trucking, the SBA guarantees the lender that the loan will be repaid. This general long-distance freight trucking loan for $65,000 was given to a New Mexico entrepreneur in 2002. This small business knew how to go about getting a business bank loan. Based in Las Cruces, New Mexico, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Bank Of The Southwest, based in Las Cruces, New Mexico. SBA Loan Borrower COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING SBA Loan Lender BANK OF THE SOUTHWEST 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 484121 - General Long-Distance Freight Trucking Loan Approval Date 1/31/2002 Loan Approval Gross Amount $65,000 Loan Approval from the SBA Of the total $65,000 loan amount, the SBA guaranteed $55,250. 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 only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you are raising money in Las Cruces NM, you ought to talk with a local Las Cruces SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Las Cruces businesses. 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: Small Business Banks in Las Cruces, New Mexico
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