Frozen Cakes, Pies, and Pastries Manufacturing Commercial Loans

With these commercial loans for frozen cakes, pies, and pastries manufacturing, the SBA guarantees the lender that the loan will be repaid. This frozen cakes, pies, and pastries manufacturing loan for $70,000 was given to a entrepreneur in 2006.

This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Banco Bilbao Vizcaya Argentari, out of San Juan, . The loan was granted and they received $70,000 to help grow their Mayaguez, business.

SBA Loan Borrower

COMPANY TYPE: FROZEN CAKES, PIES, AND PASTRIES MANUFACTURING
MAYAGUEZ, PR 00680

SBA Loan Lender

BANCO BILBAO VIZCAYA ARGENTARI
254 MUNOZ RIVERA AVE
SAN JUAN, PR 00936

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

311813 - Frozen Cakes, Pies, and Pastries Manufacturing

Loan Approval Date

12/8/2006

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $35,000.

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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Mayaguez or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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