Ponce, PR Entrepreneur Gets SBA Loan to Buy Martin's Bbq Franchise

Borrowing money to purchase a Martin's Bbq franchise? Banco Popular De Puerto Rico has a history of making these loans and they are guaranteed by the SBA.

Martin's Bbq franchise loans are available to Ponce, entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Banco Popular De Puerto Rico, based in San Juan, , issued an SBA franchise loan for a Martin's Bbq franchise in 2005. We've got all the details on this small business loan.

SBA Loan Borrower

PUERTO RICAN COUSINE INC.
PONCE, PR 00730

SBA Loan Lender

BANCO POPULAR DE PUERTO RICO
209 MUNOZ RIVERA AVE, POPULAR
SAN JUAN, PR 00918

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

722110 - Full-Service Restaurants

Loan Approval Date

2/15/2005

Loan Approval Gross Amount

$251,500

Loan Approval from the SBA

Of the total $251,500 loan amount, the SBA guaranteed $125,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Martin's Bbq franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Ponce or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

Where to Get a Bank Loan to Purchase a Franchise

Ponce, PR Entrepreneur Gets SBA Loan to Buy Martin's Bbq Franchise