Entrepreneur Works With New York City, New York Bank to Get an SBA Loan

Get to know New York City, New York banks that specialize in SBA loans and know how to work with entrepreneurs. Banco Popular North America is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Charlotte, North Carolina starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Banco Popular North America. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: INTERIOR DESIGN SERVICES
CHARLOTTE, NC 28205

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541410 - Interior Design Services

Loan Approval Date

7/12/2006

Loan Approval Gross Amount

$251,000

Loan Approval from the SBA

Of the total $251,000 loan amount, the SBA guaranteed $188,250.

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 only one employee. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Banco Popular North America 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.

Related Links:

The Friends and Family Network

Banks in New York City, New York

New York SBA Banks