Loans for Dairy Cattle and Milk Production

With these loans for dairy cattle and milk production, the SBA guarantees the lender that the loan will be repaid. This dairy cattle and milk production loan for $150,000 was given to a New Mexico entrepreneur in 2001.

This small firm knew how to go about getting a business bank loan. Based in Portales, New Mexico, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was First Community Bank, based in Clovis, New Mexico.

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 was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

112120 - Dairy Cattle and Milk Production

Loan Approval Date

10/10/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 6 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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.

Related Links:

Obtaining Funding From a Venture Capitalist

SBA 7A Banks in Clovis, New Mexico

Getting an SBA Loan in New Mexico