Bank Of The Southwest Provides SBA Loan to Buy H & R Block Franchise

Need money to purchase a H & R Block franchise? Bank Of The Southwest has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Truth Or Consequences, New Mexico needed money to invest in a H & R Block franchise back in 2002. Bank Of The Southwest issued an SBA franchise loan. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

H & R BLOCK
TRUTH OR CONSEQUENCES, NM 87901

SBA Loan Lender

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

This lender issued this particular 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

541213 - Tax Preparation Services

Loan Approval Date

5/29/2002

Loan Approval Gross Amount

$83,000

Loan Approval from the SBA

Of the total $83,000 loan amount, the SBA guaranteed $70,550.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a H & R Block franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of The Southwest and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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