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November 22, 2024 |
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| Home > Small Business Lenders by State > Business Loan Sources > Santurce, Business Loans > Firstbank Puerto Rico Santurce Business Loans > Reupholstery And Furniture Repair Loan | ||||
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Small Business Funding
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Commercial Loans for Reupholstery and Furniture RepairLooking for commercial loans for reupholstery and furniture repair? The SBA may be the answer. This $20,000 reupholstery and furniture repair loan was issued by a bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Trujillo Alto, was able to borrow $20,000 from Firstbank Puerto Rico. The SBA made the loan possible by guaranteeing $10,000 of this small business loan. SBA Loan Borrower COMPANY TYPE: REUPHOLSTERY AND FURNITURE REPAIR SBA Loan Lender FIRSTBANK PUERTO RICO This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 811420 - Reupholstery and Furniture Repair Loan Approval Date 2/13/2006 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 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 loan application indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? Don't forget. To get an SBA loan, you must 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. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Firstbank Puerto Rico so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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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