Roswell, New Mexico Bank Lends Money to Beauty Salons Company in Truth Or Consequence, New Mexico

Get to know Roswell, 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 a growing company.

Finding a small business loan in Truth Or Consequence, New Mexico starts with an understanding of who else has gotten loans in the area. In this case, a local firm 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: BEAUTY SALONS
TRUTH OR CONSEQUENCE, NM 87901

SBA Loan Lender

BANK OF THE SOUTHWEST
226 N MAIN ST
ROSWELL, NM 88202

This lender issued this particular 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

812112 - Beauty Salons

Loan Approval Date

6/28/2004

Loan Approval Gross Amount

$86,000

Loan Approval from the SBA

Of the total $86,000 loan amount, the SBA guaranteed $73,100.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of The Southwest so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Advice on Getting a Small Business Loan

SBA Banks in Roswell, New Mexico

New Mexico SBA 7A Lenders