Getting an SBA Loan for Textile and Fabric Finishing Mills

With these commercial loans for textile and fabric finishing mills, the SBA guarantees the lender that the loan will be repaid. This textile and fabric finishing mills loan for $80,000 was given to a New Mexico entrepreneur in 2003.

Getting a small business loan in Santa Clara, New Mexico was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Western Bank, operating out of Silver City, New Mexico. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: TEXTILE AND FABRIC FINISHING MILLS
SANTA CLARA, NM 88026

SBA Loan Lender

WESTERN BANK
333 HWY 180 WEST
SILVER CITY, NM 88062

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

313312 - Textile and Fabric Finishing Mills

Loan Approval Date

12/8/2003

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 only one employee. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Western Bank and they will explain how you can get an SBA loan for your company.

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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Banks in Silver City, New Mexico

New Mexico SBA 7A Banks