SBA Loan from Banco Bilbao Vizcaya Argentari Helps Beauty Salons Company

Banco Bilbao Vizcaya Argentari and the SBA work together to get business loans for growing small businesses. Here's an example of how a entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mayaguez, was able to borrow $18,900 from Banco Bilbao Vizcaya Argentari. The SBA made the loan possible by guaranteeing $9,450 of this small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
Mayaguez, PR 00680

SBA Loan Lender

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

This SBA bank loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

2/6/2006

Loan Approval Gross Amount

$18,900

Loan Approval from the SBA

Of the total $18,900 loan amount, the SBA guaranteed $9,450.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Banco Bilbao Vizcaya Argentari had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Banco Bilbao Vizcaya Argentari made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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