Las Cruces, New Mexico Entrepreneur Gets an SBA Loan

Looking to get a New Mexico SBA loan? This New Mexico entrepreneur got an SBA loan, provided by a California bank that works with the SBA to help small business owners.

This small business, based in Las Cruces, New Mexico, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Wachovia Sba Lending, Inc.. We've got the inside scoop on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
LAS CRUCES, NM 88001

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

This SBA small business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending background and a thorough understanding of SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5251 - Hardware Stores

NAICS Code

444130 - Hardware Stores

Loan Approval Date

8/3/2000

Loan Approval Gross Amount

$1,170,000

Loan Approval from the SBA

Of the total $1,170,000 loan amount, the SBA guaranteed $553,410.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 80 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wachovia Sba Lending, Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wachovia Sba Lending, Inc. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Obtaining Funding - How to Borrow Money

Best Roseville, California Banks for Small Business

Getting an SBA Loan in California