Entrepreneur Works With Santurce, Bank to Get an SBA Loan

Thinking about meeting 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 business in San Juan, . They received an SBA loan for $300,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: SCENIC AND SIGHTSEEING TRANSPORTATION, LAND
SAN JUAN, PR 00908

SBA Loan Lender

FIRSTBANK PUERTO RICO
1519 PONCE DE LEON AVE
SANTURCE, PR 00908

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

487110 - Scenic and Sightseeing Transportation, Land

Loan Approval Date

5/26/2005

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 6 employees. The SBA loan documents did not indicate that the business planned to use the money to add employees or retain any existing employees.

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Firstbank Puerto Rico had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Firstbank Puerto Rico made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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