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December 22, 2024 |
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| Home > Small Business Lenders by State > Business Loan Sources > San Juan, Business Loans > Economic Devel Bank For Puerto R San Juan Business Loans > Carwashes Loan | ||||
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San Juan, Bank for SBA Loans
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San Juan, Lender Lends Money to Carwashes CompanyGet to know San Juan, banks that specialize in business loans and know how to work with entrepreneurs. Economic Devel Bank For Puerto R is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Cayey, starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Economic Devel Bank For Puerto R. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: CARWASHES SBA Loan Lender ECONOMIC DEVEL BANK FOR PUERTO R This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7542 - Carwashes NAICS Code 811192 - Car Washes Loan Approval Date 3/22/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 29 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Economic Devel Bank For Puerto R had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Economic Devel Bank For Puerto R 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. Related Links:
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