Business Loan from Banco Popular North America Given to Insurance Agencies And Brokerages Company

Banco Popular North America has a track record as a leading provider of SBA loans. Find out how this Florida entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Eustis, Florida was able to borrow $124,800 from Banco Popular North America. The SBA made the loan possible by guaranteeing $106,080 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: INSURANCE AGENCIES AND BROKERAGES
EUSTIS, FL 32726

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

524210 - Insurance Agencies and Brokerages

Loan Approval Date

5/18/2005

Loan Approval Gross Amount

$124,800

Loan Approval from the SBA

Of the total $124,800 loan amount, the SBA guaranteed $106,080.

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 6 employees. The loan application indicated that the loan would help retain 6 existing jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Banco Popular North America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Alternative Financing

SBA Participating Banks in New York City, New York

New York SBA 7A Banks