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November 14, 2024 |
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| Home > Small Business Lenders by State > Business Loan Sources > San Juan, Business Loans > Banco Popular De Puerto Rico San Juan Business Loans > Sports And Recreation Instruction Loan | ||||
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Requirements for Business Owners On Getting a Loan
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Sports and Recreation Instruction Business LoansLooking for business loans for sports and recreation instruction? Talk to a banker who works with the SBA. This $33,000 sports and recreation instruction loan was issued by a bank. This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Banco Popular De Puerto Rico, out of San Juan, . The loan was granted and they received $33,000 to help grow their Rio Blanco Ward, business. SBA Loan Borrower COMPANY TYPE: SPORTS AND RECREATION INSTRUCTION SBA Loan Lender BANCO POPULAR DE PUERTO RICO This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 611620 - Sports and Recreation Instruction Loan Approval Date 9/10/2004 Loan Approval Gross Amount $33,000 Loan Approval from the SBA Of the total $33,000 loan amount, the SBA guaranteed $16,500. 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 only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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:
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