Las Cruces, New Mexico Bank Gives SBA Loan to Gift, Novelty, And Souvenir Stores Company

Get small business loans from a Las Cruces, New Mexico bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

First New Mexico Bank is a Las Cruces, New Mexico small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a New Mexico company.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR STORES
LAS CRUCES, NM 88001

SBA Loan Lender

FIRST NEW MEXICO BANK
3000 E LOHMAN
LAS CRUCES, NM 88011

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

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

6/17/2003

Loan Approval Gross Amount

$22,300

Loan Approval from the SBA

Of the total $22,300 loan amount, the SBA guaranteed $18,955.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First New Mexico Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

The Art of Bootstrapping

SBA Participating Banks in Las Cruces, New Mexico

Getting an SBA Loan in New Mexico