Rio Piedras, Business Gets SBA-Guaranteed Funding from Banco Popular De Puerto Rico

An 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 $661,500 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rio Piedras, was able to borrow $661,500 from Banco Popular De Puerto Rico. The SBA made the loan possible by guaranteeing $496,125 of this small business loan.

SBA Loan Borrower

COMPANY TYPE: TESTING LABORATORIES
RIO PIEDRAS, PR 00927

SBA Loan Lender

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

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8734 - Testing Laboratories

NAICS Code

541380 - Testing Laboratories

Loan Approval Date

3/9/2006

Loan Approval Gross Amount

$661,500

Loan Approval from the SBA

Of the total $661,500 loan amount, the SBA guaranteed $496,125.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 37 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are raising money 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $661,500 loan. Remember, you control your own destiny.

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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