Rio Rancho, NM Entrepreneur Gets SBA Loan to Buy Hobbytown Usa Franchise

Need a loan to buy a Hobbytown Usa franchise? Bank - Albuquerque has a history of making these loans and they are guaranteed by the SBA.

Hobbytown Usa franchise loans are available to Rio Rancho, New Mexico entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Bank - Albuquerque, based in Albuquerque, New Mexico, issued an SBA franchise loan for a Hobbytown Usa franchise in 2000. We've got all the details on this New Mexico small business loan.

SBA Loan Borrower

HOBBY TOWN USA
RIO RANCHO, NM 87124

SBA Loan Lender

BANK - ALBUQUERQUE
201 3RD ST NW, STE 1400
ALBUQUERQUE, NM 87102

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5945 - Hobby, Toy, and Game Shops

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

1/24/2000

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $97,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Hobbytown Usa franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business planned to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

HobbyTown USA

Small Business Loan

Who Lends Money to Small Businesses in Albuquerque, New Mexico

Getting an SBA Loan in New Mexico