Physicians Commercial Loans

With these commercial loans for physicians, the SBA guarantees the lender that the loan will be repaid. This physicians loan for $50,000 was given to a New Mexico entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Las Cruces, New Mexico was able to borrow $50,000 from Citizens Bank Of Las Cruces. The SBA made the loan possible by guaranteeing $42,500 of this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
LAS CRUCES, NM 88011

SBA Loan Lender

CITIZENS BANK OF LAS CRUCES
505 S MAIN ST, LORETTO CTR #5
LAS CRUCES, NM 88001

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

621111 - Physicians

Loan Approval Date

8/11/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Las Cruces NM, you ought to talk with a local Las Cruces SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Las Cruces businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $50,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Business Incubators

SBA 7A Banks in Las Cruces, New Mexico

SBA Lenders in New Mexico