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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 > The First National Bank Las Cruces Business Loans > Physicians Loan | ||||
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The First National Bank SBA Loan Las Cruces, New Mexico
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SBA Loan from The First National Bank Helps Physicians CompanyAn SBA loan from The First National Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Las Cruces, New Mexico business owner got a $46,000 loan. This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with The First National Bank, out of Las Cruces, New Mexico. The loan was granted and they received $46,000 to help grow their Las Cruces, New Mexico business. SBA Loan Borrower COMPANY TYPE: PHYSICIANS SBA Loan Lender THE FIRST NATIONAL BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 621111 - Physicians Loan Approval Date 10/17/2002 Loan Approval Gross Amount $46,000 Loan Approval from the SBA Of the total $46,000 loan amount, the SBA guaranteed $39,100. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. 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: SBA 7A Banks for Las Cruces, New Mexico Loans
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