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January 27, 2025 |
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| Home > Small Business Lenders by State > Business Loan Sources > Hato Rey, Business Loans > Banco Santander Puerto Rico Hato Rey Business Loans > Eating Places Loan | ||||
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Banks in Hato Rey, That Make SBA Loans
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Hato Rey, Bank Lends Money to Eating Places Company in Carolina,Find Hato Rey, banks that specialize in business loans and know how to work with entrepreneurs. Banco Santander Puerto Rico is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Carolina, starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Banco Santander Puerto Rico. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: EATING PLACES 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. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 8/30/2001 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $59,500. 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 10 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My 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 an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Banco Santander Puerto Rico are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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. Related Links:
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