SBA Loan from First Savings Bank Helps Chiropractors Company

First Savings Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Mexico entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Truth Or Consequences, New Mexico was able to borrow $200,500 from First Savings Bank. The SBA made the loan possible by guaranteeing $150,375 of this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: CHIROPRACTORS
TRUTH OR CONSEQUENCES, NM 87901

SBA Loan Lender

FIRST SAVINGS BANK
915 N DATE
TRUTH OR CONSEQUENCES, NM 87901

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621310 - Chiropractors

Loan Approval Date

8/5/2005

Loan Approval Gross Amount

$200,500

Loan Approval from the SBA

Of the total $200,500 loan amount, the SBA guaranteed $150,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Accountant's Role in Securing Financing

SBA Approved Banks in Truth Or Consequences, New Mexico

SBA New Mexico Banks