Vega Baja, Entrepreneur Gets an SBA Loan
Would a business loan help your company expand? If so, you may want to talk with this bank, which offers SBA loans to entrepreneurs.
This small business, based in Vega Baja, , offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Banco Popular De Puerto Rico. We've got the inside scoop on this small business loan.
SBA Loan Borrower
COMPANY TYPE: NATIONAL COMMERCIAL BANKS
VEGA BAJA, PR 00693
SBA Loan Lender
BANCO POPULAR DE PUERTO RICO
209 MUNOZ RIVERA AVE, POPULAR
SAN JUAN, PR 00918
This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
6021 - National Commercial Banks
NAICS Code
621210 - Dentists
Loan Approval Date
8/19/2004
Loan Approval Gross Amount
$411,000
Loan Approval from the SBA
Of the total $411,000 loan amount, the SBA guaranteed $308,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans provide smart, affordable business financing for small businesses looking to expand.
If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Banco Popular De 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.
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