Get an SBA Loan for Building Finishing Contractors

With these loans for building finishing contractors, the SBA guarantees the lender that the loan will be repaid. This building finishing contractors loan for $39,600 was given to a New Mexico entrepreneur in 2004.

This company knew how to go about getting a business bank loan. Based in Springer, New Mexico, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was International Bank, based in Raton, New Mexico.

SBA Loan Borrower

COMPANY TYPE: BUILDING FINISHING CONTRACTORS
SPRINGER, NM 87747

SBA Loan Lender

INTERNATIONAL BANK
200 S 2ND ST
RATON, NM 87740

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

238390 - Building Finishing Contractors

Loan Approval Date

7/6/2004

Loan Approval Gross Amount

$39,600

Loan Approval from the SBA

Of the total $39,600 loan amount, the SBA guaranteed $33,660.

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. The SBA loan application for the borrower did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

While you may be able to borrow money from friends and family, 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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