Loans for Snack Food Manufacturing

With these loans for snack food manufacturing, the SBA guarantees the lender that the loan will be repaid. This snack food manufacturing loan for $81,000 was given to a New Mexico entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Santa Fe, New Mexico was able to borrow $81,000 from Century Bank. The SBA made the loan possible by guaranteeing $68,850 of this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: SNACK FOOD MANUFACTURING
SANTA FE, NM 87505

SBA Loan Lender

CENTURY BANK
100 S FEDERAL PL
SANTA FE, NM 87501

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311919 - Snack Food Manufacturing

Loan Approval Date

5/17/2005

Loan Approval Gross Amount

$81,000

Loan Approval from the SBA

Of the total $81,000 loan amount, the SBA guaranteed $68,850.

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 SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Century Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Century Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

Related Links:

Obtaining Funding - Getting Venture Capital

Find an SBA Lender in Santa Fe, New Mexico

New Mexico SBA Bank Lenders