Banco Popular North America Gives SBA Loan to Janitorial Services Company

Would a Tennessee business loan help your company expand? If so, you may want to talk with this New York bank, which offers SBA loans to Tennessee entrepreneurs.

Getting a small business loan in Kingsport, Tennessee was a top priority for this SBA-financed company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Banco Popular North America. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: JANITORIAL SERVICES
KINGSPORT, TN 37664

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561720 - Janitorial Services

Loan Approval Date

4/13/2007

Loan Approval Gross Amount

$234,300

Loan Approval from the SBA

Of the total $234,300 loan amount, the SBA guaranteed $175,725.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

Related Links:

Raising Venture Capital

Small Business Banks in New York City, New York

SBA Participating Banks in New York