 |
 |
January 27, 2025 |
|
|
|
|
||
| Home > Small Business Lenders by State > Business Loan Sources > Hato Rey, Business Loans > Banco Santander Puerto Rico Hato Rey Business Loans > Commercial Laundry, Drycleaning, And Pressing Machine Manufacturing Loan | ||||
 |
||||
SBA Loan from Banco Santander Puerto Rico
|
||||
 |
SBA Loan from Banco Santander Puerto Rico Helps Commercial Laundry, Drycleaning, And Pressing Machine Manufacturing CompanyBanco Santander 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. This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Banco Santander Puerto Rico, out of Hato Rey, . The loan was granted and they received $78,700 to help grow their Carolina, business. SBA Loan Borrower COMPANY TYPE: COMMERCIAL LAUNDRY, DRYCLEANING, AND PRESSING MACHINE MANUFACTURING SBA Loan Lender BANCO SANTANDER PUERTO RICO This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333312 - Commercial Laundry, Drycleaning, and Pressing Machine Manufacturing Loan Approval Date 4/15/2004 Loan Approval Gross Amount $78,700 Loan Approval from the SBA Of the total $78,700 loan amount, the SBA guaranteed $66,895. 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 3 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
|
|
||
|
||||
|
|
||||