Financing for Lighting Equipment Manufacturing
Looking for loans for lighting equipment manufacturing? The SBA may be the answer. This $492,000 lighting equipment manufacturing loan was issued by a bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Orlando, Florida was able to borrow $492,000 from Banco Popular De Puerto Rico. The SBA made the loan possible by guaranteeing $369,000 of this Florida small business loan.
SBA Loan Borrower
COMPANY TYPE: LIGHTING EQUIPMENT
ORLANDO, FL 32810
SBA Loan Lender
BANCO POPULAR DE PUERTO RICO
209 MUNOZ RIVERA AVE, POPULAR
SAN JUAN, PR 00918
This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
3648 - Lighting Equipment
NAICS Code
335129 - Lighting Equipment Manufacturing
Loan Approval Date
4/19/2000
Loan Approval Gross Amount
$492,000
Loan Approval from the SBA
Of the total $492,000 loan amount, the SBA guaranteed $369,000.
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 5 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Banco Popular De Puerto Rico and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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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