Business Loan from Banco Popular De Puerto Rico Given to Engineering Services 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.

Getting a small business loan in Caguas, was an essential business goal for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Banco Popular De Puerto Rico, operating out of San Juan, . Here are the details on this small business loan.

SBA Loan Borrower

COMPANY TYPE: ENGINEERING SERVICES
CAGUAS, PR 00725

SBA Loan Lender

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

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541330 - Engineering Services

Loan Approval Date

9/26/2006

Loan Approval Gross Amount

$1,272,000

Loan Approval from the SBA

Of the total $1,272,000 loan amount, the SBA guaranteed $954,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 23 employees. The SBA loan documents indicated that the loan would help retain 23 existing jobs.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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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