Getting an SBA Loan for Used Merchandise Stores

With these commercial loans for used merchandise stores, the SBA guarantees the lender that the loan will be repaid. This used merchandise stores loan for $120,000 was given to a New Mexico entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Santa Fe, New Mexico was able to borrow $120,000 from Century Bank. The SBA made the loan possible by guaranteeing $102,000 of this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
SANTA FE, NM 87501

SBA Loan Lender

CENTURY BANK
100 S FEDERAL PL
SANTA FE, NM 87501

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453310 - Used Merchandise Stores

Loan Approval Date

7/25/2002

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 5 employees. This SBA loan request did not indicate that the small business planned to use the money to hire new employees 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.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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