Entrepreneur Works With Hato Rey, Bank to Get an SBA Loan

Get small business loans from a Hato Rey, bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Eurobank is a Hato Rey, small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a company.

SBA Loan Borrower

COMPANY TYPE: TIRE RETREADING AND REPAIR SHOPS
CANOVANAS, PR 00729

SBA Loan Lender

EUROBANK
270 MUNOZ RIVERA AVE
HATO REY, PR 00919

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7534 - Tire Retreading and Repair Shops

Loan Approval Date

9/28/2000

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 16 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Eurobank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Eurobank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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