Business Loan from Banco Popular North America Given to Computer Systems Design Services Company
Banco Popular North America has a track record as a leading provider of SBA loans. Find out how this Texas entrepreneur received an SBA loan from them.
This business knew how to go about getting a business bank loan. Based in Houston, Texas, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Banco Popular North America, based in New York City, New York.
SBA Loan Borrower
COMPANY TYPE: COMPUTER SYSTEMS DESIGN SERVICES
HOUSTON, TX 77002
SBA Loan Lender
BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
541512 - Computer Systems Design Services
Loan Approval Date
9/29/2005
Loan Approval Gross Amount
$187,000
Loan Approval from the SBA
Of the total $187,000 loan amount, the SBA guaranteed $140,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had only one employee. The SBA loan documents indicated that the loan would help generate 18 new jobs and retain 1 existing job.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
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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