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December 22, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Roswell, Business Loans > Bank Of The Southwest Roswell Business Loans > Motor Vehicle Towing Loan | ||||
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New Mexico Bank SBA Loans
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Roswell, New Mexico Lender Lends Money to Motor Vehicle Towing CompanyThinking about meeting with a Roswell, New Mexico bank about an SBA loan? Here's one New Mexico business loan, issued by a Roswell bank, that was approved by the SBA. Applying for an SBA loan with Bank Of The Southwest worked out well for our friends at one local firm in Las Cruces, New Mexico. They received an SBA loan for $47,300. Nice! SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE TOWING 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 488410 - Motor Vehicle Towing Loan Approval Date 9/8/2004 Loan Approval Gross Amount $47,300 Loan Approval from the SBA Of the total $47,300 loan amount, the SBA guaranteed $40,205. 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 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 $47,300 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: Good Banks for Small Business in Roswell, New Mexico
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