Banco Popular De Puerto Rico SBA Loan to Plastics Materials And Resins Company

Banco Popular De Puerto Rico and the SBA work together to get business loans for growing small businesses. Here's an example of how a entrepreneur was able to get a loan to take a small business to the next level.

This small firm knew how to go about getting a business bank loan. Based in Caguas, , they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Banco Popular De Puerto Rico, based in San Juan, .

SBA Loan Borrower

COMPANY TYPE: PLASTICS MATERIALS AND RESINS
CAGUAS, PR 00725

SBA Loan Lender

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

This business 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

2821 - Plastics Materials and Resins

NAICS Code

325211 - Plastics Material and Resin Manufacturing

Loan Approval Date

2/26/2002

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 45 employees. The loan application did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Banco Popular De Puerto Rico and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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