Raton, New Mexico Business Gets SBA-Guaranteed Funding from International Bank

An SBA loan from International Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Raton, New Mexico business owner got a $57,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with International Bank, out of Raton, New Mexico. The loan was granted and they received $57,000 to help grow their Raton, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: SPECIALIZED DESIGN SERVICES
RATON, NM 87740

SBA Loan Lender

INTERNATIONAL BANK
200 S 2ND ST
RATON, NM 87740

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

541490 - Specialized Design Services

Loan Approval Date

6/18/2004

Loan Approval Gross Amount

$57,000

Loan Approval from the SBA

Of the total $57,000 loan amount, the SBA guaranteed $48,450.

More Information on This SBA Loan

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

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into International Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Getting a Small Business Loan

SBA 7A Banks in Raton, New Mexico

Where to Get an SBA Loan New Mexico