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December 4, 2024 |
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| Home > Small Business Lenders by State > Business Loan Sources > Hato Rey, Business Loans > Banco Santander Puerto Rico Hato Rey Business Loans > Packaged Frozen Food Wholesalers Loan | ||||
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SBA Loan from Banco Santander Puerto Rico
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SBA Loan from Banco Santander Puerto Rico Helps Packaged Frozen Food Wholesalers CompanyAn SBA loan from Banco Santander 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 $350,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Juan, was able to borrow $350,000 from Banco Santander Puerto Rico. The SBA made the loan possible by guaranteeing $262,500 of this small business loan. SBA Loan Borrower COMPANY TYPE: PACKAGED FROZEN FOOD WHOLESALERS SBA Loan Lender BANCO SANTANDER PUERTO RICO Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 422420 - Packaged Frozen Food Wholesalers Loan Approval Date 5/18/2001 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $262,500. 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 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Banco Santander Puerto Rico and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Dealing With Venture Capitalists
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