Banco Popular De Puerto Rico SBA Loan to Full-Service Restaurants Company
An SBA loan from Banco Popular De Puerto Rico typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hatillo, business owner got a $400,000 loan.
This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Banco Popular De Puerto Rico, out of San Juan, . The loan was granted and they received $400,000 to help grow their Hatillo, business.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
HATILLO, PR 00659
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
722110 - Full-Service Restaurants
Loan Approval Date
11/30/2004
Loan Approval Gross Amount
$400,000
Loan Approval from the SBA
Of the total $400,000 loan amount, the SBA guaranteed $300,000.
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 only one employee. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 5 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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.
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