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December 20, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > New York City, Business Loans > Banco Popular North America New York City Business Loans > General Merchandise Stores Loan | ||||
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Banco Popular North America
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Business Loan from Banco Popular North America Given to General Merchandise Stores CompanyBanco Popular North America has a track record as a leading provider of SBA loans. Find out how this New Jersey entrepreneur received an SBA loan from them. This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Banco Popular North America, out of New York City, New York. The loan was granted and they received $10,000 to help grow their Newark, New Jersey business. SBA Loan Borrower COMPANY TYPE: GENERAL MERCHANDISE STORES SBA Loan Lender BANCO POPULAR NORTH AMERICA The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 452990 - General Merchandise Stores Loan Approval Date 8/22/2007 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Best Banks in New York City, New York
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