Loans for Store Retailers
With these loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $60,500 was given to a entrepreneur in 2004.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mayaguez, was able to borrow $60,500 from Banco Santander Puerto Rico. The SBA made the loan possible by guaranteeing $51,425 of this small business loan.
SBA Loan Borrower
COMPANY TYPE: STORE RETAILERS
MAYAGUEZ, PR 00680
SBA Loan Lender
BANCO SANTANDER PUERTO RICO
AVE PONCE DE LEON 207
HATO REY, PR 00918
This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
453998 - Store Retailers
Loan Approval Date
5/6/2004
Loan Approval Gross Amount
$60,500
Loan Approval from the SBA
Of the total $60,500 loan amount, the SBA guaranteed $51,425.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had only one employee. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
Many small businesses receive loans backed by the U.S. Small Business Administration.
While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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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