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November 24, 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 > Plastics Materials And Basic Forms And Shapes Loan | ||||
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SBA Lender
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Guaynabo, Business Gets SBA-Guaranteed Funding from Banco Popular De Puerto RicoBanco Popular De Puerto Rico and the SBA work together to get business loans for growing small businesses. Here's an example of how a entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Guaynabo, was able to borrow $150,000 from Banco Popular De Puerto Rico. The SBA made the loan possible by guaranteeing $112,500 of this small business loan. SBA Loan Borrower COMPANY TYPE: PLASTICS MATERIALS AND BASIC FORMS AND SHAPES SBA Loan Lender BANCO POPULAR DE PUERTO RICO This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5162 - Plastics Materials and Basic Forms and Shapes NAICS Code 424610 - Plastics Materials and Basic Forms and Shapes Merchant Wholesalers Loan Approval Date 1/7/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 6 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need business start up money in Guaynabo PR, you ought to talk with a local Guaynabo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Guaynabo businesses. 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: Banking Deregulation's Effects on Entrepreneurship
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