SBA Loan from Banco Bilbao Vizcaya Argentari Helps Insurance Related Activities Company

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, a Barceloneta, business owner got a $90,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Barceloneta, was able to borrow $90,000 from Banco Bilbao Vizcaya Argentari. The SBA made the loan possible by guaranteeing $76,500 of this small business loan.

SBA Loan Borrower

COMPANY TYPE: INSURANCE RELATED ACTIVITIES
BARCELONETA, PR 00617

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

524298 - Insurance Related Activities

Loan Approval Date

10/18/2006

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 8 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Banco Bilbao Vizcaya Argentari are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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