SBA Loan from Banco Popular De Puerto Rico Helps Groceries, General Line Company
Banco Popular De Puerto Rico is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one entrepreneur who tapped into the power of SBA loans.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Barranquitas, was able to borrow $450,000 from Banco Popular De Puerto Rico. The SBA made the loan possible by guaranteeing $337,500 of this small business loan.
SBA Loan Borrower
COMPANY TYPE: GROCERIES, GENERAL LINE
BARRANQUITAS, PR 00794
SBA Loan Lender
BANCO POPULAR DE PUERTO RICO
209 MUNOZ RIVERA AVE, POPULAR
SAN JUAN, PR 00918
This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5141 - Groceries, General Line
NAICS Code
445110 - Supermarkets and Grocery Stores
Loan Approval Date
12/16/2005
Loan Approval Gross Amount
$450,000
Loan Approval from the SBA
Of the total $450,000 loan amount, the SBA guaranteed $337,500.
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 4 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
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.
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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