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January 27, 2025 |
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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 > Testing Laboratories Loan | ||||
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Bank SBA Loans
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Banco Santander Puerto Rico SBA Loan to Testing Laboratories CompanyLooking to get a SBA loan? Here's one business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Sebastian, was able to borrow $51,000 from Banco Santander Puerto Rico. The SBA made the loan possible by guaranteeing $40,800 of this small business loan. SBA Loan Borrower COMPANY TYPE: TESTING LABORATORIES SBA Loan Lender BANCO SANTANDER PUERTO RICO This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8734 - Testing Laboratories Loan Approval Date 6/13/2000 Loan Approval Gross Amount $51,000 Loan Approval from the SBA Of the total $51,000 loan amount, the SBA guaranteed $40,800. 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 only one employee. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great way to raise money While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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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