Getting an SBA Loan for Grape Vineyards

With these SBA loans for grape vineyards, the SBA guarantees the lender that the loan will be repaid. This grape vineyards loan for $23,000 was given to a New Mexico entrepreneur in 2000.

This business knew how to go about getting a business bank loan. Based in Tularosa, New Mexico, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Western Bank, based in Alamogordo, New Mexico.

SBA Loan Borrower

COMPANY TYPE: WINE AND DISTILLED ALCOHOLIC BEVERAGES
TULAROSA, NM 88352

SBA Loan Lender

WESTERN BANK
500 9TH & MARYLAND
ALAMOGORDO, NM 88310

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5182 - Wine and Distilled Alcoholic Beverages

NAICS Code

111332 - Grape Vineyards

Loan Approval Date

10/13/2000

Loan Approval Gross Amount

$23,000

Loan Approval from the SBA

Of the total $23,000 loan amount, the SBA guaranteed $18,400.

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 4 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Tularosa NM, you ought to talk with a local Tularosa SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Tularosa businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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