Entrepreneur Works With San Juan, Bank to Get an SBA Loan
Want to talk with a San Juan, bank about a small business loan? Here's one business loan, issued by a San Juan bank, that was approved by the SBA.
Applying for an SBA loan with Banco Popular De Puerto Rico worked out well for our friends at one local company in Hato Rey, . They got an SBA loan for $450,000. Sweet!
SBA Loan Borrower
COMPANY TYPE: EATING PLACES
HATO REY, PR 00918
SBA Loan Lender
BANCO POPULAR DE PUERTO RICO
209 MUNOZ RIVERA AVE, POPULAR
SAN JUAN, PR 00918
This SBA small business 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
5812 - Eating Places
NAICS Code
722212 - Cafeterias, Grill Buffets, and Buffets
Loan Approval Date
9/26/2001
Loan Approval Gross Amount
$450,000
Loan Approval from the SBA
Of the total $450,000 loan amount, the SBA guaranteed $337,500.
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 15 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
Many small businesses receive loans backed by the U.S. Small Business Administration.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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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