Borrowing Money for Specialty Food Stores

Looking for bank loans for specialty food stores? The SBA may be the answer. This $122,500 specialty food stores loan was issued by a bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Guayama, was able to borrow $122,500 from Banco Popular De Puerto Rico. The SBA made the loan possible by guaranteeing $104,125 of this small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
GUAYAMA, PR 00784

SBA Loan Lender

BANCO POPULAR DE PUERTO RICO
209 MUNOZ RIVERA AVE, POPULAR
SAN JUAN, PR 00918

This lender provides SBA small business 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.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

9/23/2006

Loan Approval Gross Amount

$122,500

Loan Approval from the SBA

Of the total $122,500 loan amount, the SBA guaranteed $104,125.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Banco Popular De Puerto Rico had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Banco Popular De Puerto Rico made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Startup Funding Tip