Doral Bank Gives Small Business Loan to Retail Bakeries Company

Business loans are available to business owners through the SBA. In this case, a bank provides the loan.

This business, based in Caguas, , offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Doral Bank. We've got the inside scoop on this small business loan.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
CAGUAS, PR 00725

SBA Loan Lender

DORAL BANK
163 BARBOSA AVE
CATANO, PR 00962

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

311811 - Retail Bakeries

Loan Approval Date

6/19/2006

Loan Approval Gross Amount

$62,300

Loan Approval from the SBA

Of the total $62,300 loan amount, the SBA guaranteed $31,150.

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 8 employees. The loan application indicated that the loan would help retain 8 existing jobs.

Getting an SBA Loan For Your 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

How Much Venture Capital Is There?