Catano, Bank Gives SBA Loan to Plumbing, Heating, And Air Conditioning Contractors Company

Get to know Catano, banks that specialize in business loans and know how to work with entrepreneurs. Doral Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Mayaguez, starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Doral Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: PLUMBING, HEATING, AND AIR CONDITIONING CONTRACTORS
MAYAGUEZ, PR 00680

SBA Loan Lender

DORAL BANK
163 BARBOSA AVE
CATANO, PR 00962

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235110 - Plumbing, Heating, and Air Conditioning Contractors

Loan Approval Date

1/21/2005

Loan Approval Gross Amount

$62,550

Loan Approval from the SBA

Of the total $62,550 loan amount, the SBA guaranteed $53,167.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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