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November 22, 2024 |
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| Home > Small Business Lenders by State > Business Loan Sources > San Juan, Business Loans > Banco Popular De Puerto Rico San Juan Business Loans > Hotels And Motels Loan | ||||
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Hotels and Motels LoansLooking for loans for hotels and motels? An SBA loan may be just what you've been looking for. This $150,000 hotels and motels loan was issued by a bank. This company knew how to go about getting a business bank loan. Based in Utuado, , they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Banco Popular De Puerto Rico, based in San Juan, . SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender BANCO POPULAR DE PUERTO RICO The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels NAICS Code 721110 - Hotels and Motels Loan Approval Date 3/16/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 20 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Remember, you 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. 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 Popular De 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:
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