Commercial Loans for Baked Goods Stores
With these commercial loans for baked goods stores, the SBA guarantees the lender that the loan will be repaid. This baked goods stores loan for $170,100 was given to a entrepreneur in 2007.
This business knew how to go about getting a business bank loan. Based in Isabela, , they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Banco Popular De Puerto Rico, based in San Juan, .
SBA Loan Borrower
COMPANY TYPE: BAKED GOODS STORES
ISABELA, PR 00662
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
445291 - Baked Goods Stores
Loan Approval Date
2/14/2007
Loan Approval Gross Amount
$170,100
Loan Approval from the SBA
Of the total $170,100 loan amount, the SBA guaranteed $127,575.
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 loan application indicated that the loan would help generate 9 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.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Banco Popular De Puerto Rico that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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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