Warsaw, Virginia Business Gets SBA-Guaranteed Funding from Banco Popular North America

Banco Popular North America has a track record as a leading provider of SBA loans. Find out how this Virginia entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Warsaw, Virginia was able to borrow $995,000 from Banco Popular North America. The SBA made the loan possible by guaranteeing $746,250 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: BOAT DEALERS
WARSAW, VA 22572

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441222 - Boat Dealers

Loan Approval Date

12/27/2006

Loan Approval Gross Amount

$995,000

Loan Approval from the SBA

Of the total $995,000 loan amount, the SBA guaranteed $746,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 7 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Although it's called an SBA loan, 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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Banco Popular North America and they will explain how you can get an SBA loan for your company.

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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