Raising Money for Specialty Trade Contractors

Looking for bank loans for specialty trade contractors? Talk to a banker who works with the SBA. This $68,000 specialty trade contractors loan was issued by a New Mexico bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pie Town, New Mexico was able to borrow $68,000 from Western Commerce Bank. The SBA made the loan possible by guaranteeing $57,800 of this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY TRADE CONTRACTORS
PIE TOWN, NM 87827

SBA Loan Lender

WESTERN COMMERCE BANK
127 S CANYON ST
CARLSBAD, NM 88220

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

238990 - Specialty Trade Contractors

Loan Approval Date

4/6/2005

Loan Approval Gross Amount

$68,000

Loan Approval from the SBA

Of the total $68,000 loan amount, the SBA guaranteed $57,800.

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 3 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new 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.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Western Commerce 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:

Obtaining Funding - How to Borrow Money

SBA 7A Lenders in Carlsbad, New Mexico

SBA New Mexico Banks