Firm Gets a Bank Loan
Small business loans in are hard to find these days. We take a look at one small business loan, provided by a bank, that was approved by the SBA.
You can learn something about getting a small business loan in San Juan, by studying this loan to a local company, made back in 2002. Banks like Banco Popular De Puerto Rico may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: CAFETERIAS, GRILL BUFFETS, AND BUFFETS
SAN JUAN, PR 00925
SBA Loan Lender
BANCO POPULAR DE PUERTO RICO
209 MUNOZ RIVERA AVE, POPULAR
SAN JUAN, PR 00918
The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
722212 - Cafeterias, Grill Buffets, and Buffets
Loan Approval Date
12/20/2002
Loan Approval Gross Amount
$15,000
Loan Approval from the SBA
Of the total $15,000 loan amount, the SBA guaranteed $7,500.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 only one employee. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 5 existing jobs.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Banco Popular De Puerto Rico so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Getting a Small Business Loan