Getting an SBA Loan for Machine Shops

Looking for SBA loans for machine shops? Try the SBA. This $15,000 machine shops loan was issued by a bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hatillo, was able to borrow $15,000 from Banco Santander Puerto Rico. The SBA made the loan possible by guaranteeing $12,750 of this small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT
HATILLO, PR 00659

SBA Loan Lender

BANCO SANTANDER PUERTO RICO
AVE PONCE DE LEON 207
HATO REY, PR 00918

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program involves 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

3599 - Industrial and Commercial Machinery and Equipment

NAICS Code

332710 - Machine Shops

Loan Approval Date

1/18/2002

Loan Approval Gross Amount

$15,000

Loan Approval from the SBA

Of the total $15,000 loan amount, the SBA guaranteed $12,750.

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 3 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in Hatillo PR, you ought to talk with a local Hatillo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hatillo businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Banco Santander 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.

I Need an SBA Loan in Hatillo,

Getting an SBA Loan for Machine Shops