First Savings Bank Gives Small Business Loan to Tire Dealers Company

New MexicoBank loans are available to New Mexico firms through the SBA. In this case, a New Mexico bank provides the loan.

This company, based in Truth Or Consequences, New Mexico, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First Savings Bank. We've got the inside scoop on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: TIRE DEALERS
TRUTH OR CONSEQUENCES, NM 87901

SBA Loan Lender

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

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441320 - Tire Dealers

Loan Approval Date

3/23/2006

Loan Approval Gross Amount

$494,000

Loan Approval from the SBA

Of the total $494,000 loan amount, the SBA guaranteed $370,500.

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 application for the borrower did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Truth Or Consequences or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

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Best Banks in Truth Or Consequences, New Mexico

Getting an SBA Loan in New Mexico