Banco Santander Puerto Rico SBA Loan to Membership Sports And Recreation Clubs Company

Banco Santander Puerto Rico and the SBA work together to get business loans for growing small businesses. Here's an example of how a entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rio Piedras, was able to borrow $85,000 from Banco Santander Puerto Rico. The SBA made the loan possible by guaranteeing $68,000 of this small business loan.

SBA Loan Borrower

COMPANY TYPE: MEMBERSHIP SPORTS AND RECREATION CLUBS
RIO PIEDRAS, PR 00923

SBA Loan Lender

BANCO SANTANDER PUERTO RICO
AVE PONCE DE LEON 207
HATO REY, PR 00918

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7997 - Membership Sports and Recreation Clubs

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

10/30/2000

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 3 employees. The SBA loan documents did not indicate that the company planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Rio Piedras PR, you ought to talk with a local Rio Piedras SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Rio Piedras businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $85,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Obtaining Funding - How to Borrow Money