Truth Or Consequences, New Mexico Bank Gives SBA Loan to Hotels And Motels Company

Find Truth Or Consequences, New Mexico banks that specialize in SBA loans and know how to work with entrepreneurs. Bank Of The Southwest is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
TRUTH OF CONSEQUENCES, NM 87901

SBA Loan Lender

BANK OF THE SOUTHWEST
509 BROADWAY
TRUTH OR CONSEQUENCES, NM 87901

This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

3/7/2002

Loan Approval Gross Amount

$143,000

Loan Approval from the SBA

Of the total $143,000 loan amount, the SBA guaranteed $121,550.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business planned 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?

Many small businesses receive loans backed by the U.S. Small Business Administration.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $143,000 loan. Remember, feel the fear, and do it anyway.

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:

Getting a Small Business Loan

SBA Approved Banks in Truth Or Consequences, New Mexico

SBA Lenders in New Mexico