Business Loan from Banco Popular North America Given to Lawyers Company
An SBA loan from Banco Popular North America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Brooklyn, New York business owner got a $25,000 loan.
This growing company knew how to go about getting a business bank loan. Based in Brooklyn, New York, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Banco Popular North America, based in New York City, New York.
SBA Loan Borrower
COMPANY TYPE: LAWYERS
BROOKLYN, NY 11220
SBA Loan Lender
BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019
This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
541110 - Lawyers
Loan Approval Date
10/6/2006
Loan Approval Gross Amount
$25,000
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $12,500.
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. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.
Getting an SBA Loan For Your Business
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $25,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Alternative Financing
Best Banks in New York City, New York
New York SBA 7A Lenders