Doral Bank SBA Loan to Facilities Support Management Services Company

Doral Bank has a track record as a leading provider of SBA loans. Find out how this entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Doral Bank, out of Catano, . The loan was granted and they received $150,000 to help grow their Ponce, business.

SBA Loan Borrower

COMPANY TYPE: FACILITIES SUPPORT MANAGEMENT SERVICES
PONCE, PR 00731

SBA Loan Lender

DORAL BANK
163 BARBOSA AVE
CATANO, PR 00962

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8744 - Facilities Support Management Services

NAICS Code

561210 - Facilities Support Services

Loan Approval Date

10/3/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 6 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

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

If you are working on finding money to start a business in Ponce PR, you ought to talk with a local Ponce SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ponce businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Doral Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Doral Bank 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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