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December 20, 2024 |
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| Home > Small Business Lenders by State > New Mexico Business Loan Sources > Los Alamos, Business Loans > Los Alamos National Bank Los Alamos Business Loans > Tire Retreading And Repair Shops Loan | ||||
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New Mexico Bank SBA Loans
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Los Alamos National Bank SBA Loan to Tire Retreading And Repair Shops CompanySearching for a New Mexico SBA loan? Here's one New Mexico business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Santa Fe, New Mexico was able to borrow $50,000 from Los Alamos National Bank. The SBA made the loan possible by guaranteeing $40,000 of this New Mexico small business loan. SBA Loan Borrower COMPANY TYPE: TIRE RETREADING AND REPAIR SHOPS SBA Loan Lender LOS ALAMOS NATIONAL BANK This was a Low Documentation SBA loan. The SBA launched this program to limit 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. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7534 - Tire Retreading and Repair Shops Loan Approval Date 4/20/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. 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 only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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 SBA 7A Banks in Los Alamos, New Mexico
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