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December 22, 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 > Eating Places Loan | ||||
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Business Loan from Banco Popular De Puerto Rico
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Business Loan from Banco Popular De Puerto Rico Given to Eating Places CompanyAn SBA loan from Banco Popular De Puerto Rico typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Rio Piedras, business owner got a $185,000 loan. This business knew how to go about getting a business bank loan. Based in Rio Piedras, , they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Banco Popular De Puerto Rico, based in San Juan, . SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender BANCO POPULAR DE PUERTO RICO This lender issued this SBA small business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 12/11/2003 Loan Approval Gross Amount $185,000 Loan Approval from the SBA Of the total $185,000 loan amount, the SBA guaranteed $138,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Banco Popular De Puerto Rico that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Advice on Getting a Small Business Loan
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