SBA Loan from Banco Popular De Puerto Rico Helps Ice Cream And Frozen Desserts Company

Banco Popular De Puerto Rico has a track record as a leading provider of SBA loans. Find out how this entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Banco Popular De Puerto Rico, out of San Juan, . The loan was granted and they received $72,000 to help grow their Aibonito, business.

SBA Loan Borrower

COMPANY TYPE: ICE CREAM AND FROZEN DESSERTS
AIBONITO, PR 00705

SBA Loan Lender

BANCO POPULAR DE PUERTO RICO
209 MUNOZ RIVERA AVE, POPULAR
SAN JUAN, PR 00918

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2024 - Ice Cream and Frozen Desserts

NAICS Code

311520 - Ice Cream and Frozen Dessert Manufacturing

Loan Approval Date

9/30/2003

Loan Approval Gross Amount

$72,000

Loan Approval from the SBA

Of the total $72,000 loan amount, the SBA guaranteed $61,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

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

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

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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