Company Gets a Bank Loan

SBA loans in are hard to find these days. We take a look at one SBA loan, provided by a bank, that was approved by the SBA.

Getting a small business loan in Carolina, was a top priority for this particular business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Banco Bilbao Vizcaya Argentari. Here are the details on this small business loan.

SBA Loan Borrower

COMPANY TYPE: SINGLE FAMILY HOUSING CONSTRUCTION
CAROLINA, PR 00985

SBA Loan Lender

BANCO BILBAO VIZCAYA ARGENTARI
254 MUNOZ RIVERA AVE
SAN JUAN, PR 00936

This lender processed this loan for a small business 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

233210 - Single Family Housing Construction

Loan Approval Date

2/7/2005

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Banco Bilbao Vizcaya Argentari that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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