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November 21, 2024 |
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| Home > Small Business Lenders by State > Business Loan Sources > San Juan, Business Loans > Banco Popular De Puerto Rico San Juan Business Loans > Beauty Shops Loan | ||||
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Bank SBA Loans
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Banco Popular De Puerto Rico SBA Loan to Beauty Shops CompanyLooking to get a business loan? Here's one business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Guaynabo, was able to borrow $125,000 from Banco Popular De Puerto Rico. The SBA made the loan possible by guaranteeing $93,750 of this small business loan. SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender BANCO POPULAR DE PUERTO RICO This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7231 - Beauty Shops Loan Approval Date 4/18/2000 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $93,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Banco Popular De Puerto Rico so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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:
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