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December 22, 2024 |
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| Home > Small Business Lenders by State > Business Loan Sources > Catano, Business Loans > Doral Bank Catano Business Loans > Medical Laboratories Loan | ||||
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Small Business Banks for Businesses in
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Local Business Gets a SBA LoanSearching for a business loan? This entrepreneur got a business loan, provided by a bank that works with the SBA to help small business owners. By giving the right information to Doral Bank, this San Juan, business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: MEDICAL LABORATORIES SBA Loan Lender DORAL BANK This 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 8071 - Medical Laboratories NAICS Code 621511 - Medical Laboratories Loan Approval Date 4/25/2002 Loan Approval Gross Amount $106,000 Loan Approval from the SBA Of the total $106,000 loan amount, the SBA guaranteed $79,500. 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 7 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Doral Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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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