Aibonito, Business Gets SBA-Guaranteed Funding from Banco Bilbao Vizcaya Argentari

An SBA loan from Banco Bilbao Vizcaya Argentari typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Aibonito, business owner got a $50,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Aibonito, was able to borrow $50,000 from Banco Bilbao Vizcaya Argentari. The SBA made the loan possible by guaranteeing $25,000 of this small business loan.

SBA Loan Borrower

COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
AIBONITO, PR 00705

SBA Loan Lender

BANCO BILBAO VIZCAYA ARGENTARI
254 MUNOZ RIVERA AVE
SAN JUAN, PR 00936

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

454390 - Direct Selling Establishments

Loan Approval Date

1/23/2008

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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