First Community Bank Gives Small Business Loan to Dairy Cattle And Milk Production Company

New MexicoSBA loans are available to New Mexico entrepreneurs through the SBA. In this case, a New Mexico bank provides the loan.

Getting a small business loan in Portales, New Mexico was a top priority for this particular business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First Community Bank. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: DAIRY CATTLE AND MILK PRODUCTION
PORTALES, NM 88130

SBA Loan Lender

FIRST COMMUNITY BANK
801 PILE ST
CLOVIS, NM 88101

This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

112120 - Dairy Cattle and Milk Production

Loan Approval Date

10/17/2005

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 6 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Community Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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Banks in Clovis, New Mexico

SBA Participating Banks in New Mexico