Entrepreneur Works With Carlsbad, New Mexico Bank to Get an SBA Loan

Get SBA loans from a Carlsbad, New Mexico bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Western Commerce Bank is a Carlsbad, New Mexico small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a New Mexico company.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
LOS LUNAS, NM 88220

SBA Loan Lender

WESTERN COMMERCE BANK
127 S CANYON ST
CARLSBAD, NM 88220

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/29/2005

Loan Approval Gross Amount

$572,315

Loan Approval from the SBA

Of the total $572,315 loan amount, the SBA guaranteed $429,236.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 14 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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Good Banks for Small Business in Carlsbad, New Mexico

New Mexico SBA 7A Banks