Wells Fargo Bank SBA Loan to Automotive Services Company

Looking to get a New Mexico small business loan? Here's one New Mexico business loan that was approved by the SBA.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Wells Fargo Bank, out of Austin, Texas. The loan was granted and they received $87,500 to help grow their Santa Rosa, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE SERVICES
SANTA ROSA, NM 88435

SBA Loan Lender

WELLS FARGO BANK
912 S HWY 183
AUSTIN, TX 78741

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7549 - Automotive Services

Loan Approval Date

9/8/2000

Loan Approval Gross Amount

$87,500

Loan Approval from the SBA

Of the total $87,500 loan amount, the SBA guaranteed $70,000.

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 loan application indicated that the funding would help generate 3 new jobs.

Next Steps for Getting an SBA Loan

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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