Getting an SBA Loan for Packaged Frozen Food Merchant Wholesalers

With these commercial loans for packaged frozen food merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This packaged frozen food merchant wholesalers loan for $2,000,000 was given to a entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mayaguez, was able to borrow $2,000,000 from Banco Popular De Puerto Rico. The SBA made the loan possible by guaranteeing $1,500,000 of this small business loan.

SBA Loan Borrower

COMPANY TYPE: PACKAGED FROZEN FOOD MERCHANT WHOLESALERS
MAYAGUEZ, PR 00681

SBA Loan Lender

BANCO POPULAR DE PUERTO RICO
209 MUNOZ RIVERA AVE, POPULAR
SAN JUAN, PR 00918

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424420 - Packaged Frozen Food Merchant Wholesalers

Loan Approval Date

3/10/2005

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000.

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 46 employees. The SBA loan documents indicated that the loan would help retain 46 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Business Cash Advances