Where to Get Capital for Construction Sand and Gravel Mining

Looking for small business loans for construction sand and gravel mining? Talk to a banker who works with the SBA. This $450,000 construction sand and gravel mining loan was issued by a New Mexico bank.

This company knew how to go about getting a business bank loan. Based in Rio Rancho Estates, New Mexico, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was First Community Bank, based in Taos, New Mexico.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION SAND AND GRAVEL MINING
RIO RANCHO ESTATES, NM 87124

SBA Loan Lender

FIRST COMMUNITY BANK
120 W PLAZA
TAOS, NM 87571

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

212321 - Construction Sand and Gravel Mining

Loan Approval Date

11/28/2006

Loan Approval Gross Amount

$450,000

Loan Approval from the SBA

Of the total $450,000 loan amount, the SBA guaranteed $337,500.

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. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $450,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

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Who Lends Money to Small Businesses in Taos, New Mexico

New Mexico SBA 7A Lenders