Albuquerque, New Mexico Bank Gives SBA Loan to Mayonnaise, Dressing, And Prepared Sauce Manufacturing Company

Want to talk with an Albuquerque, New Mexico bank about an SBA loan? Here's one New Mexico business loan, issued by an Albuquerque bank, that was approved by the SBA.

Applying for an SBA loan with Charter Bank worked out well for our friends at one local firm in Santa Fe, New Mexico. The business was able to get an SBA loan for $95,000. Nice!

SBA Loan Borrower

COMPANY TYPE: MAYONNAISE, DRESSING, AND PREPARED SAUCE MANUFACTURING
SANTA FE, NM 87507

SBA Loan Lender

CHARTER BANK
4400 OSUNA RD NE
ALBUQUERQUE, NM 87109

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311941 - Mayonnaise, Dressing, and Prepared Sauce Manufacturing

Loan Approval Date

3/19/2002

Loan Approval Gross Amount

$95,000

Loan Approval from the SBA

Of the total $95,000 loan amount, the SBA guaranteed $80,750.

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 4 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

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

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.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Charter 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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Where to Get an SBA Loan in Albuquerque, New Mexico

Where to Get an SBA Loan New Mexico