Entrepreneur Works With Albuquerque, New Mexico Bank to Get an SBA Loan

Find Albuquerque, New Mexico banks that specialize in small business loans and know how to work with entrepreneurs. Bank 1st is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Santa Fe, New Mexico starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Bank 1st. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: NONSCHEDULED CHARTERED PASSENGER AIR TRANSPORTATION
SANTA FE, NM 87507

SBA Loan Lender

BANK 1ST
2900 LOUISIANA BLVD NE, SO BL
ALBUQUERQUE, NM 87190

This lender issued this SBA small business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

481211 - Nonscheduled Chartered Passenger Air Transportation

Loan Approval Date

4/19/2006

Loan Approval Gross Amount

$471,000

Loan Approval from the SBA

Of the total $471,000 loan amount, the SBA guaranteed $353,250.

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 6 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Bank 1st that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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