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November 14, 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 > Full-Service Restaurants Loan | ||||
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Banco Popular De Puerto Rico
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SBA Loan from Banco Popular De Puerto Rico Helps Full-Service Restaurants 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 San Juan, business owner got a $20,000 loan. This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Banco Popular De Puerto Rico, out of San Juan, . The loan was granted and they received $20,000 to help grow their San Juan, business. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender BANCO POPULAR DE PUERTO RICO This lender processed this loan for a small business 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 722110 - Full-Service Restaurants Loan Approval Date 11/1/2007 Loan Approval Gross Amount $20,000 Loan Approval from the SBA Of the total $20,000 loan amount, the SBA guaranteed $10,000. 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 5 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. 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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