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December 22, 2024 |
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| Home > Small Business Lenders by State > Business Loan Sources > San Juan, Business Loans > Banco Bilbao Vizcaya Argentari San Juan Business Loans > Eating Places Loan | ||||
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Banco Bilbao Vizcaya Argentari
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Aibonito, Business Gets SBA-Guaranteed Funding from Banco Bilbao Vizcaya ArgentariBanco Bilbao Vizcaya Argentari and the SBA work together to get business loans for growing small businesses. Here's an example of how a entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Aibonito, was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Banco Bilbao Vizcaya Argentari, operating out of San Juan, . Here are the details on this small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender BANCO BILBAO VIZCAYA ARGENTARI This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 2/8/2000 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $101,250. 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 3 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Banco Bilbao Vizcaya Argentari and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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:
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