Banco Popular North America Gives SBA Loan to Full-Service Restaurants Company

Would a Connecticut small business loan help your small business to grow and prosper? If so, you may want to talk with this New York bank, which offers SBA loans to Connecticut entrepreneurs.

You can learn something about getting a small business loan in East Hartford (town Of), Connecticut by studying this loan to a local company, made back in 2007. Banks like Banco Popular North America may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
EAST HARTFORD (TOWN OF), CT 06108

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/26/2007

Loan Approval Gross Amount

$507,500

Loan Approval from the SBA

Of the total $507,500 loan amount, the SBA guaranteed $380,625.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $507,500 loan. Remember, where there is a will, there is a way!

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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