Banco Popular De Puerto Rico SBA Loan to Environmental Consulting Services Company
Banco Popular De Puerto Rico and the SBA work together to get business loans for growing small businesses. Here's an example of how a entrepreneur was able to get a loan to take a small business to the next level.
This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Banco Popular De Puerto Rico, out of San Juan, . The loan was granted and they received $100,000 to help grow their Vega Baja, business.
SBA Loan Borrower
COMPANY TYPE: ENVIRONMENTAL CONSULTING SERVICES
VEGA BAJA, PR 00693
SBA Loan Lender
BANCO POPULAR DE PUERTO RICO
209 MUNOZ RIVERA AVE, POPULAR
SAN JUAN, PR 00918
The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
541620 - Environmental Consulting Services
Loan Approval Date
12/16/2006
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $50,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 11 employees. This SBA loan request indicated that the loan would help retain 11 existing jobs.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Banco Popular De Puerto Rico that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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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