State National Bank SBA Loan to Full-Service Restaurants Company

State National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one New Mexico entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Truth Or Consequences (hot Spr, New Mexico was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from State National Bank, operating out of El Paso, Texas. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
TRUTH OR CONSEQUENCES (HOT SPR, NM 87901

SBA Loan Lender

STATE NATIONAL BANK
690 SUNLAND PARK DR
EL PASO, TX 79912

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/17/2002

Loan Approval Gross Amount

$141,500

Loan Approval from the SBA

Of the total $141,500 loan amount, the SBA guaranteed $120,275.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 26 employees. This SBA loan request indicated that the loan would help retain 26 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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