Raising Money for Motor Vehicle Supplies and New Parts Merchant Wholesalers

Looking for bank loans for motor vehicle supplies and new parts merchant wholesalers? An SBA loan may be just what you've been looking for. This $8,000 motor vehicle supplies and new parts merchant wholesalers loan was issued by a New Mexico bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Portales, New Mexico was able to borrow $8,000 from First Community Bank. The SBA made the loan possible by guaranteeing $6,800 of this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS MERCHANT WHOLESALERS
PORTALES, NM 88130

SBA Loan Lender

FIRST COMMUNITY BANK
801 PILE ST
CLOVIS, NM 88101

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

423120 - Motor Vehicle Supplies and New Parts Merchant Wholesalers

Loan Approval Date

5/13/2003

Loan Approval Gross Amount

$8,000

Loan Approval from the SBA

Of the total $8,000 loan amount, the SBA guaranteed $6,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

This SBA loan was for $8,000. How would you spend $8,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

How to Raise Money

Small Business Banks in Clovis, New Mexico

New Mexico SBA 7A Banks