SBA Loan from Bank Of The Southwest Helps Specialized Long-Distance Freight Trucking Company

Bank Of The Southwest 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.

Getting a small business loan in Waterflow, New Mexico was an essential business goal for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Bank Of The Southwest, operating out of Roswell, New Mexico. Here are the details on this New Mexico small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALIZED LONG-DISTANCE FREIGHT TRUCKING
WATERFLOW, NM 87421

SBA Loan Lender

BANK OF THE SOUTHWEST
226 N MAIN ST
ROSWELL, NM 88202

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

484230 - Specialized Long-Distance Freight Trucking

Loan Approval Date

12/12/2007

Loan Approval Gross Amount

$41,300

Loan Approval from the SBA

Of the total $41,300 loan amount, the SBA guaranteed $20,650.

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 only one employee. The loan application indicated that the loan would help retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of The Southwest had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of The Southwest 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:

The Friends and Family Network

Best Banks in Roswell, New Mexico

Getting an SBA Loan in New Mexico