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November 22, 2024 |
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| Home > Small Business Lenders by State > Business Loan Sources > San Juan, Business Loans > Banco Popular De Puerto Rico San Juan Business Loans > Power Laundries, Family And Commercial Loan | ||||
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How Hard Is It to Get a Small Business Loan in Bayamon, ?
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Drycleaning and Laundry Services LoansLooking for loans for drycleaning and laundry services? Try the SBA. This $310,000 drycleaning and laundry services loan was issued by a bank. This company knew how to go about getting a business bank loan. Based in Bayamon, , they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Banco Popular De Puerto Rico, based in San Juan, . SBA Loan Borrower COMPANY TYPE: POWER LAUNDRIES, FAMILY AND COMMERCIAL SBA Loan Lender BANCO POPULAR DE PUERTO RICO This loan for a small business 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 7211 - Power Laundries, Family and Commercial NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 9/19/2001 Loan Approval Gross Amount $310,000 Loan Approval from the SBA Of the total $310,000 loan amount, the SBA guaranteed $232,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 17 employees. The loan application did not indicate that the company planned 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? 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 Popular De Puerto Rico 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. Related Links:
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