Ruidoso, New Mexico Bank Gives SBA Loan to Septic Tank And Related Services Company

A Ruidoso, New Mexico small business loan can be yours. Learn how a business got a $187,500 business loan from this New Mexico bank.

This loan to a local firm is a good example of an SBA loan. First Savings Bank made the loan and the SBA guaranteed a portion of the loan. Many other New Mexico entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: SEPTIC TANK AND RELATED SERVICES
RUIDOSO, NM 88345

SBA Loan Lender

FIRST SAVINGS BANK
2713 SUDDERTH DR
RUIDOSO, NM 88345

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

562991 - Septic Tank and Related Services

Loan Approval Date

6/10/2003

Loan Approval Gross Amount

$187,500

Loan Approval from the SBA

Of the total $187,500 loan amount, the SBA guaranteed $140,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from First Savings Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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