Raising Money for Radio Networks

Looking for bank loans for radio networks? An SBA loan may be just what you've been looking for. This $725,000 radio networks loan was issued by a New Mexico bank.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First Community Bank, out of Taos, New Mexico. The loan was granted and they received $725,000 to help grow their Taos, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: RADIO NETWORKS
TAOS, NM 87571

SBA Loan Lender

FIRST COMMUNITY BANK
120 W PLAZA
TAOS, NM 87571

This loan was underwritten by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA provides a quick answer on whether the loan qualifies.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

513111 - Radio Networks

Loan Approval Date

1/10/2003

Loan Approval Gross Amount

$725,000

Loan Approval from the SBA

Of the total $725,000 loan amount, the SBA guaranteed $543,750.

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

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 First Community 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.

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SBA 7A Lenders in Taos, New Mexico

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