Get an SBA Loan for Supermarkets and Grocery Stores
With these small business loans for supermarkets and grocery stores, the SBA guarantees the lender that the loan will be repaid. This supermarkets and grocery stores loan for $320,000 was given to a entrepreneur in 2000.
This company knew how to go about getting a business bank loan. Based in Guayama, , they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Banco Popular De Puerto Rico, based in San Juan, .
SBA Loan Borrower
COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
GUAYAMA, PR 00969
SBA Loan Lender
BANCO POPULAR DE PUERTO RICO
209 MUNOZ RIVERA AVE, POPULAR
SAN JUAN, PR 00918
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
445110 - Supermarkets and Grocery Stores
Loan Approval Date
12/8/2000
Loan Approval Gross Amount
$320,000
Loan Approval from the SBA
Of the total $320,000 loan amount, the SBA guaranteed $240,000.
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 7 employees. The loan application indicated that the loan would help retain 7 existing jobs.
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.
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 De Puerto Rico 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:
Accountant's Role in Securing Financing