First Community Bank SBA Loan to Landscaping Services Company

First Community Bank has a track record as a leading provider of SBA loans. Find out how this New Mexico entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Peralta, New Mexico was able to borrow $71,000 from First Community Bank. The SBA made the loan possible by guaranteeing $53,250 of this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: LANDSCAPING SERVICES
PERALTA, NM 87042

SBA Loan Lender

FIRST COMMUNITY BANK
120 W PLAZA
TAOS, NM 87571

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561730 - Landscaping Services

Loan Approval Date

6/27/2001

Loan Approval Gross Amount

$71,000

Loan Approval from the SBA

Of the total $71,000 loan amount, the SBA guaranteed $53,250.

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 30 employees. The SBA loan documents did not indicate that the small 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 loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from First Community Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Strategic Investors

SBA 7A Lenders in Taos, New Mexico

SBA Participating Banks in New Mexico