SBA Loan from Banco Popular North America Helps Broadwoven Fabric Mills, Cotton Company

Banco Popular North America and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Commerce, California was able to borrow $1,440,000 from Banco Popular North America. The SBA made the loan possible by guaranteeing $749,952 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: BROADWOVEN FABRIC MILLS, COTTON
COMMERCE, CA 90040

SBA Loan Lender

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

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2211 - Broadwoven Fabric Mills, Cotton

NAICS Code

313210 - Broadwoven Fabric Mills

Loan Approval Date

5/5/2000

Loan Approval Gross Amount

$1,440,000

Loan Approval from the SBA

Of the total $1,440,000 loan amount, the SBA guaranteed $749,952.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 60 employees. The SBA loan application for the borrower indicated that the loan would help generate 40 new jobs and retain 60 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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:

A Company That Helps Entrepreneurs

SBA Banks in New York City, New York

Where to Get an SBA Loan New York