Financing for RV Parks and Campgrounds

With these commercial loans for rv parks and campgrounds, the SBA guarantees the lender that the loan will be repaid. This rv parks and campgrounds loan for $1,080,000 was given to a New Mexico entrepreneur in 2004.

Getting a small business loan in Santa Rosa, New Mexico was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Stearns Bank, operating out of Saint Cloud, Minnesota. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: RV PARKS AND CAMPGROUNDS
SANTA ROSA, NM 88435

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

This lender issued this small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721211 - RV Parks and Campgrounds

Loan Approval Date

6/3/2004

Loan Approval Gross Amount

$1,080,000

Loan Approval from the SBA

Of the total $1,080,000 loan amount, the SBA guaranteed $810,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Stearns Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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