Doral Bank Gives Bank Loan to Electrical Wiring Supplies Company

Would a bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this bank, which offers SBA loans to entrepreneurs.

Getting a small business loan in San Juan, was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Doral Bank. Here are the details on this small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL WIRING SUPPLIES
SAN JUAN, PR 00913

SBA Loan Lender

DORAL BANK
163 BARBOSA AVE
CATANO, PR 00962

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5063 - Electrical Wiring Supplies

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

8/26/2004

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $22,500.

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 loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to 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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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