Business Loan from Banco Popular North America Given to Motion Picture And Video Industries Company

An SBA loan from Banco Popular North America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a New York, New York business owner got a $400,000 loan.

This business knew how to go about getting a business bank loan. Based in New York, New York, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Banco Popular North America, based in New York City, New York.

SBA Loan Borrower

COMPANY TYPE: MOTION PICTURE AND VIDEO INDUSTRIES
NEW YORK, NY 10013

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

512199 - Motion Picture and Video Industries

Loan Approval Date

7/6/2001

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

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 17 employees. The loan application indicated that the loan would help generate 6 new jobs and retain 17 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $400,000 loan. Remember, you control your own destiny.

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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