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November 15, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Artesia, Business Loans > The First National Bank Artesia Business Loans > Physicians Loan | ||||
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How to Get SBA Money in Las Cruces, New Mexico
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The First National Bank Gives SBA Loan to Physicians CompanyBusiness loans in New Mexico are hard to find these days. We take a look at one New Mexico business loan, provided by a New Mexico bank, that was approved by the SBA. 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 The First National Bank. We've got the inside scoop on this New Mexico small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICIANS SBA Loan Lender THE FIRST NATIONAL BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621111 - Physicians Loan Approval Date 2/2/2007 Loan Approval Gross Amount $190,000 Loan Approval from the SBA Of the total $190,000 loan amount, the SBA guaranteed $142,500. 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 27 employees. The SBA loan documents indicated that the loan would help retain 27 existing jobs. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The First National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The First National Bank 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 Decide How Much to Raise Good Banks for Small Business in Artesia, New Mexico
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