Clovis, New Mexico Lender Lends Money to Construction Sand And Gravel Mining Company

Get to know Clovis, New Mexico banks that specialize in SBA loans and know how to work with entrepreneurs. James Polk Stone National Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Roswell, New Mexico starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from James Polk Stone National Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION SAND AND GRAVEL MINING
ROSWELL, NM 88203

SBA Loan Lender

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

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a 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

2/24/2003

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

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 planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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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