Local Business Gets a New Mexico Small Business Loan

New MexicoBusiness loans are available to New Mexico business owners through the SBA. In this case, a Texas bank provides the loan.

Getting a small business loan in Ruidoso, New Mexico was a top priority for this SBA-financed company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from State National Bank. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
RUIDOSO, NM 88345

SBA Loan Lender

STATE NATIONAL BANK
690 SUNLAND PARK DR
EL PASO, TX 79912

When this loan was made, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program aims to provide expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

11/14/2001

Loan Approval Gross Amount

$227,197

Loan Approval from the SBA

Of the total $227,197 loan amount, the SBA guaranteed $170,397.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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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