Banco Santander Puerto Rico SBA Loan to Retail Bakeries Company
An SBA loan from Banco Santander Puerto Rico typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Humacao, business owner got a $100,000 loan.
This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Banco Santander Puerto Rico, out of Hato Rey, . The loan was granted and they received $100,000 to help grow their Humacao, business.
SBA Loan Borrower
COMPANY TYPE: RETAIL BAKERIES
HUMACAO, PR 00791
SBA Loan Lender
BANCO SANTANDER PUERTO RICO
AVE PONCE DE LEON 207
HATO REY, PR 00918
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5461 - Retail Bakeries
NAICS Code
445291 - Baked Goods Stores
Loan Approval Date
4/12/2002
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $85,000.
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 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Banco Santander Puerto Rico are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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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