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SLIDE-A-RIDE v. CITIZENS BANK OF LAS CRUCES

No. 16472.

733 P.2d 1316 (1987)

105 N.M. 433

SLIDE-A-RIDE OF LAS CRUCES, INC., et al., Plaintiffs-Appellants, v. CITIZENS BANK OF LAS CRUCES, Defendant-Appellee.

Supreme Court of New Mexico.

Rehearing Denied March 25, 1987.

Attorney(s) appearing for the Case

Anthony F. Avallone, Glenn B. Neumeyer, Law Systems of Las Cruces, P.A., Las Cruces, for plaintiffs-appellants.

Lloyd O. Bates, Jr., Kyle Gesswein, Las Cruces, for defendant-appellee.

OPINION

WALTERS, Justice.

On January 21, 1981, the Small Business Administration authorized a $150,000 loan to plaintiff Slide-A-Ride of Las Cruces, Inc. (Slide) for the purchase of land and construction expenses. Defendant Citizens Bank of Las Cruces, Inc. (Citizens) an approved lender with the SBA, agreed to make an interim loan to Slide to be followed by a permanent loan guaranteed by the SBA. While construction...

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