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November 15, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Grants, Business Loans > Grants State Bank Grants Business Loans > Coin-Operated Amusement Devices Loan | ||||
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Grants Lenders
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Entrepreneur Works With Grants, New Mexico Bank to Get an SBA LoanA Grants, New Mexico SBA loan can be yours. Learn how a company got a $424,500 business loan from this New Mexico bank. This loan to an entrepreneur is a good example of an SBA loan. Grants State Bank made the loan and the SBA guaranteed a portion of the loan. Many other New Mexico entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: COIN-OPERATED AMUSEMENT DEVICES SBA Loan Lender GRANTS STATE BANK 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 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. SIC Code 7993 - Coin-Operated Amusement Devices Loan Approval Date 6/9/2000 Loan Approval Gross Amount $424,500 Loan Approval from the SBA Of the total $424,500 loan amount, the SBA guaranteed $318,375. 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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. While you may be able to find business people willing to loan money, 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. Related Links: Raising VC Money for Social Networking Companies Where to Get an SBA Loan in Grants, New Mexico
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