SBA Loan from Firstbank Puerto Rico Helps Motor Vehicle Parts, Used Company

Firstbank Puerto Rico is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Cidra, was an essential business goal for this firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Firstbank Puerto Rico, operating out of Santurce, . Here are the details on this small business loan.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE PARTS, USED
CIDRA, PR 00739

SBA Loan Lender

FIRSTBANK PUERTO RICO
1519 PONCE DE LEON AVE
SANTURCE, PR 00908

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5015 - Motor Vehicle Parts, Used

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

6/22/2006

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Cidra or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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