Loans for Tire Dealers

With these loans for tire dealers, the SBA guarantees the lender that the loan will be repaid. This tire dealers loan for $177,520 was given to a New Mexico entrepreneur in 2003.

Getting a small business loan in Portales, New Mexico was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from James Polk Stone National Bank, operating out of Clovis, New Mexico. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: TIRE DEALERS
PORTALES, NM 88130

SBA Loan Lender

JAMES POLK STONE NATIONAL BANK
901 COLONIAL PKWY
CLOVIS, NM 88101

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441320 - Tire Dealers

Loan Approval Date

1/16/2003

Loan Approval Gross Amount

$177,520

Loan Approval from the SBA

Of the total $177,520 loan amount, the SBA guaranteed $133,140.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $177,520 loan. Remember, feel the fear, and do it anyway.

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:

Choosing VC Firms

Small Business Banks in Clovis, New Mexico

New Mexico SBA Bank Lenders