Local Business Gets a Business Loan

Would a business loan help your company expand? If so, you may want to talk with this bank, which offers SBA loans to entrepreneurs.

You can learn something about getting a small business loan in Aguada, by studying this loan to a local business, made back in 2006. Banks like Firstbank Puerto Rico may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: READY MIXED CONCRETE
AGUADA, PR 00602

SBA Loan Lender

FIRSTBANK PUERTO RICO
1519 PONCE DE LEON AVE
SANTURCE, PR 00908

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3273 - Ready Mixed Concrete

NAICS Code

327320 - Ready-Mix Concrete Manufacturing

Loan Approval Date

9/22/2006

Loan Approval Gross Amount

$1,024,500

Loan Approval from the SBA

Of the total $1,024,500 loan amount, the SBA guaranteed $768,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 31 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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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