Silver City, New Mexico Lender Lends Money to Custom Architectural Woodwork And Millwork Manufacturing Company

Get to know Silver City, New Mexico banks that specialize in SBA loans and know how to work with entrepreneurs. Western Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Silver City, New Mexico starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Western Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: CUSTOM ARCHITECTURAL WOODWORK AND MILLWORK MANUFACTURING
SILVER CITY, NM 88062

SBA Loan Lender

WESTERN BANK
333 HWY 180 WEST
SILVER CITY, NM 88062

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

337212 - Custom Architectural Woodwork and Millwork Manufacturing

Loan Approval Date

11/12/2003

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

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 5 employees. The SBA loan documents did not indicate that the business 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?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Western Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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Find an SBA Lender in Silver City, New Mexico

New Mexico SBA 7A Banks