Yauco, Business Gets SBA-Guaranteed Funding from Banco Popular De Puerto Rico
An SBA loan from Banco Popular De Puerto Rico typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Yauco, business owner got a $175,000 loan.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Yauco, was able to borrow $175,000 from Banco Popular De Puerto Rico. The SBA made the loan possible by guaranteeing $131,250 of this small business loan.
SBA Loan Borrower
COMPANY TYPE: ARRANGEMENT OF TRANSPORTATION OF FREIGHT AND CARGO
YAUCO, PR 00698
SBA Loan Lender
BANCO POPULAR DE PUERTO RICO
209 MUNOZ RIVERA AVE, POPULAR
SAN JUAN, PR 00918
This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
4731 - Arrangement of Transportation of Freight and Cargo
NAICS Code
488510 - Freight Transportation Arrangement
Loan Approval Date
12/22/2000
Loan Approval Gross Amount
$175,000
Loan Approval from the SBA
Of the total $175,000 loan amount, the SBA guaranteed $131,250.
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 only one employee. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
Many small businesses receive loans backed by the U.S. Small Business Administration.
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.
Related Links:
VC Firms on Twitter