SBA Loan from Bank Of The Southwest Helps Appliance Repair And Maintenance Company

Bank Of The Southwest 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, New Mexico was an essential business goal for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Bank Of The Southwest, operating out of Truth Or Consequences, New Mexico. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: APPLIANCE REPAIR AND MAINTENANCE
TRUTH OR CONSEQUENCES, NM 87901

SBA Loan Lender

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

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

811412 - Appliance Repair and Maintenance

Loan Approval Date

10/24/2002

Loan Approval Gross Amount

$23,100

Loan Approval from the SBA

Of the total $23,100 loan amount, the SBA guaranteed $19,635.

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 only one employee. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of The Southwest and they will explain how you can get an SBA loan for your company.

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 Participating Banks in Truth Or Consequences, New Mexico

SBA Lenders in New Mexico