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November 21, 2024 |
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| Home > Small Business Lenders by State > Business Loan Sources > Santurce, Business Loans > Firstbank Puerto Rico Santurce Business Loans > Retail Bakeries Loan | ||||
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Bank SBA Loans
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Santurce, Bank Lends Money to Retail Bakeries Company in Sabana Grande,Want to talk with a Santurce, bank about an SBA loan? Here's one business loan, issued by a Santurce bank, that was approved by the SBA. Applying for an SBA loan with Firstbank Puerto Rico worked out well for our friends at one local firm in Sabana Grande, . The business was able to get an SBA loan for $10,000. Great job! SBA Loan Borrower COMPANY TYPE: RETAIL BAKERIES SBA Loan Lender FIRSTBANK PUERTO RICO This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 311811 - Retail Bakeries Loan Approval Date 8/30/2005 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the borrowed money would help generate 12 new jobs. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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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