Carolina, Entrepreneur Gets a Small Business Loan
SBA loans are available to entrepreneurs through the SBA. In this case, a bank provides the loan.
Getting a small business loan in Carolina, was a top priority for this particular business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Banco Popular De Puerto Rico. Here are the details on this small business loan.
SBA Loan Borrower
COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
CAROLINA, PR 00984
SBA Loan Lender
BANCO POPULAR DE PUERTO RICO
209 MUNOZ RIVERA AVE, POPULAR
SAN JUAN, PR 00918
This bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
713940 - Fitness and Recreational Sports Centers
Loan Approval Date
8/18/2004
Loan Approval Gross Amount
$10,000
Loan Approval from the SBA
Of the total $10,000 loan amount, the SBA guaranteed $5,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 5 employees. This SBA loan request did not indicate that the small business planned to use the money to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money
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:
Famous Venture Capitalists