Santa Fe, New Mexico Business Gets SBA-Guaranteed Funding from Mountain America Fcu

Mountain America Fcu is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Mexico entrepreneur who tapped into the power of SBA loans.

This growing company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Mountain America Fcu, out of West Jordan, Utah. The loan was granted and they received $25,000 to help grow their Santa Fe, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: POURED CONCRETE FOUNDATION AND STRUCTURE CONTRACTORS
SANTA FE, NM 87505

SBA Loan Lender

MOUNTAIN AMERICA FCU
7181 S CAMPUS VIEW DR
WEST JORDAN, UT 84084

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238110 - Poured Concrete Foundation and Structure Contractors

Loan Approval Date

7/28/2006

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 only one employee. The SBA loan documents indicated that the loan would help retain 1 existing job.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $25,000. How would you spend $25,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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