SBA Loan from Western Bank Helps Amusement Arcades Company

An SBA loan from Western Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Silver City, New Mexico business owner got a $135,000 loan.

This business knew how to go about getting a business bank loan. Based in Silver City, New Mexico, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Western Bank, based in Lordsburg, New Mexico.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT ARCADES
SILVER CITY, NM 88061

SBA Loan Lender

WESTERN BANK
140 E MOTEL DR
LORDSBURG, NM 88045

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

713120 - Amusement Arcades

Loan Approval Date

7/5/2005

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $114,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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. This SBA loan request did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Western Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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Where to Get an SBA Loan New Mexico