Raton, New Mexico Bank Lends Money to Tortilla Manufacturing Company in Raton, New Mexico

Thinking about meeting with a Raton, New Mexico bank about a small business loan? Here's one New Mexico business loan, issued by a Raton bank, that was approved by the SBA.

Applying for an SBA loan with 1st National Bank - New Mexico worked out well for our friends at one local company in Raton, New Mexico. They got an SBA loan for $58,981. Nice!

SBA Loan Borrower

COMPANY TYPE: TORTILLA MANUFACTURING
RATON, NM 87740

SBA Loan Lender

1ST NATIONAL BANK - NEW MEXICO
1104 S 2ND ST
RATON, NM 87740

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311830 - Tortilla Manufacturing

Loan Approval Date

10/3/2001

Loan Approval Gross Amount

$58,981

Loan Approval from the SBA

Of the total $58,981 loan amount, the SBA guaranteed $50,134.

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 2 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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