Entrepreneur Works With San Juan, Bank to Get an SBA Loan
Find San Juan, banks that specialize in SBA loans and know how to work with entrepreneurs. Banco Popular De Puerto Rico is one such bank, as evidenced by this SBA loan to one business.
Finding a small business loan in Guayanilla, starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Banco Popular De Puerto Rico. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: AUTO AND HOME SUPPLY STORES
GUAYANILLA, PR 00656
SBA Loan Lender
BANCO POPULAR DE PUERTO RICO
209 MUNOZ RIVERA AVE, POPULAR
SAN JUAN, PR 00918
This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5531 - Auto and Home Supply Stores
NAICS Code
441310 - Automotive Parts and Accessories Stores
Loan Approval Date
2/15/2001
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $42,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
If you are working on finding money to start a business in Guayanilla PR, you ought to talk with a local Guayanilla SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Guayanilla businesses.
We can help you find the best banks for small businesses in Guayanilla or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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:
Equity Financing